a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b. Hint: Write an equation using two points in the form (x,p).

Question

a.	Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in a month’s time. Find the equation of the line for the demand equation. Write your answer in the form p = mx + b. Hint: Write an equation using two points in the form (x,p).

mathteacher1729 · Answer

This is asking you to write the equation of a line through the two points: 

(42, 20) and (52, 10).

anonymous · Answer

Well for each dollar decrease in price there was 1 more unit sold so m=-1.
b is the intercept which from the points we see is at 62
so p=-x+62

anonymous · Answer

So I use those two points to create a line?

mathteacher1729 · Answer

Yes.  Also, Jimmy's method is more efficient and elegant. :)

anonymous · Answer

Which would be better to use?