math

posted by .

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).

  • math -

    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

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. math

    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 …
  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