Wednesday
November 26, 2014

Homework Help: math 118

Posted by jer on Saturday, February 4, 2012 at 6:11pm.

a. Suppose a market research company finds that at a price of p = $6., they would sell x = 44 tiles each month. If they lower the price to p = $2, then more people would purchase the tile, and they can expect to sell x = 48 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), where you are given the values of x and p in the problem. First you need to find the slope of a line using these two points. Then with the slope and one of the points you can find the equation of the line using the point-slope method.( answer- worth 3 points - must show work).

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