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math

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Suppose that a market research company finds that at a price of p=$25, they would sell x= 53 tiles each month. If they lower the price to p=$15, then more people will purchase the tile, and they can expect to sell x = 63 tiles month’s time. Find the equation of the line for the demand equation. Write the answer in the form p=mx+b

  • math - ,

    Solve these two simultaneous equations for m and b:

    25 = 53 m + b
    15 = 63 m + b

    10 = -10 m
    m = -1
    15 = -63 + b
    b = 78

    p = -x + 78

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