Post a New Question

math

posted by .

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 month’s time. Find the equation of the line for the demand equation. Write the answer in the form p=mx+b

  • math -

    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

First Name
School Subject
Your Answer

Similar Questions

  1. 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 …
  2. 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 …
  3. 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 …
  4. 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 …
  5. 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 …
  6. 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 …
  7. 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 …
  8. 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 …
  9. 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 …
  10. 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 …

More Similar Questions

Post a New Question