Posted by **kim** on Sunday, January 15, 2012 at 11:53pm.

a. Suppose a market research company finds that at a price of p = $30, they would sell x = 32 baskets each month. If they lower the price to p = $10, then more people would purchase the baskets, and they can expect to sell x = 52 baskets 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).

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**Steve**, Monday, January 16, 2012 at 11:33am
I think the equation should be

x = mp+b

since the price is set, and the demand follows.

x(30) = 32

x(10) = 52

32 = 30p + b

52 = 10p + b

20p = -20

p = -1

b = 62

x = -p + 62

or, if you have a sales goal you want to meet, you can figure the price you must set by

p = -x + 62

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