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January 30, 2015

January 30, 2015

Posted by **jean** on Sunday, July 31, 2011 at 2:37pm.

Write two ordered pairs in the form (x, p) that represent the market research. (1 pt)

Find the equation of the line for the demand equation using the two points in #1. Write your answer in the form P=mx+b. (Show all of your work) Hint: 1st, Find slope (m) using the two ordered pairs you created. Replace both x variables and both y variables in the formula (p-p_1 )=m(x-x_1 ) to get the value of m. 2nd, Find the intercept (b) by replacing p and x in the equation y=mx+b with one ordered pair and m with the slope. Then solve for b. 3rd , Write the equation by replacing m and b in the equation y=mx+b with the values you found. You answer will have an x and a p variable. (This is a skill learned in MAT116)(2 pts)

Slope: m=

Intercept: b=

Equation: P=

- math -
**Damon**, Sunday, July 31, 2011 at 3:27pm1)

(36,30)

(41,15)

2)m = (15-30))/(41-36) = -15/5 = -3

(p - 30) = -3(x - 36)

p - 30 = -3 x + 108

p = -3 x + 138

===================================

check

? (hopefully 15) = -3(41) + 138 ?

? = 15 yes

- math -
**Alvin**, Sunday, July 31, 2011 at 9:38pmji

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