Homework Help: Math

Posted by Jill on Friday, September 30, 2011 at 4:43pm.

a. Suppose a market research company finds that at a price of p = $30, they would sell x = 58 tiles each month. If they lower the price to p = $18, then more people would purchase the tile, and they can expect to sell x = 70 tiles in a month’s time. Find the equation of the line for the demand equation.

Math - Henry, Saturday, October 1, 2011 at 8:53pm
(58,30), (70,18),

m = (18-30) / (70-58) = -12 / 12 = -1.

Y = mx + b = 30,
-1*58 + b = 30,
b = 88.

Eq: P = -X + 88

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