Question

Tom's treats can sell 100 candy hearts per week if they are priced at $6 each, and 20 hearts per week if they are priced at $10 each.

What is the linear demand equation (let x=quantity and y=price)?

This means set points (100,6) (20,10) and find m? Then later use the point-slope intercept?

Answer 1

yes,
slope = (10-6)/(20-100) = -1/20

using (20,10)
y-10 = (-1/20)(x-20)
20y - 200 = -x + 20
20y = -x + 220
y = (-1/20)x + 11

Answer 2

And part c says "at what price will there be neither a surplus nor shortage" does that mean equilibrium? And if it is equilibrium would I set both the demand and the supply equations equal to each other?

Answer 3

no, equilibrium means your face, set the demand and supply to your face

Answer 4

watch this video:
www.youtube.com/watch?v=x_pa-FQf_Hw