Question

The consumers will demand 32 units when the price of a product is $59, and 50 units when the price is $42. Find the demand function (express thr price p in terms of the quantity q), assuming it is linear.

Answer 1

using the two-point form of a line, you have

(p-59) = (42-59)/(50-32) * (q-32)

Now just rearrange that into

p = 1/18 (1606-17q)