math
posted by Anonymous .
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 monthâ€™s time. Find the equation of the line for the demand equation. Write the answer in the form p=mx+b

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
Respond to this Question
Similar Questions

math
a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles … 
math
a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles … 
Mat117
a. Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles … 
Algebra II
Suppose a market research company finds that at a price of p = $20, they would sell x=42 tiles each month. If they lower the price to p = $10, them more people would purchase the tile, and they can expect to sell x = 52 tiles in a … 
ALGEBRA
Suppose a market research company finds that at a price of p = $20, they would sell x = 42 tiles each month. If they lower the price to p = $10, then more people would purchase the tile, and they can expect to sell x = 52 tiles in … 
Math
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 … 
math
a. Suppose a market research company finds that at a price of p = $40, they would sell x = 27 tiles each month. If they lower the price to p = $15, then more people would purchase the tile, and they can expect to sell x = 47 tiles … 
algebra
) Suppose a market research company finds that at a price of p = $30, they would sell x = 42 tiles each month. If they lower the price to p = $20, then more people would purchase the tile, and they can expect to sell x = 52 tiles in … 
algebra
Suppose a market research company finds that at a price of p=$25,they would sell x=56 tiles each month. If they lower the price to p=$20, then more people would purchase the tile, and they can expect to sell x=66 tiles in a month's … 
algebra
Two part question: Suppose a market research company finds that at a price of p=$25, they would sell x=56 tiles each month. If they lower the price to p=$20, then more people would purchase the tile, and they can expect to sell x=66 …