suppose a market research company finds that a price of p=$22, they would sell x=42 tiles each month. If they lower the price to p=$12, then they would purchase the tile and they can expect to sell x=52 tiles in a month. Find the equation of the line for the demand equation. write the answer in the form of p=mx+b. write an equation using two points in the form(x,p)

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  1. The instructions appear quite explicit
    so you have two ordered pairs
    (42,22) and (52,12)
    slope = (12-22)/(52-42) = -10 / 10 = -1
    so p = -x + b
    sub in one of the points, say (42,22)
    22 = -42 + b
    b = 64

    p = -x + 64

    test with the above point not used, that is , (52,12)
    LS = 12
    RS = -52 + 64 = 12
    all is good!

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