Asked by Hana Mekonnen

At a price of 8 per box of orange the supply is 220 boxes and the demand is 200 at a price of 8.50 per box the supply is 270 and the demand is 300 then find the price demand equation in the form of p=mx+b
Answered by Hana Mekonnen
Where is the answer
Answered by Anonymous
p = m d + b
8.0 = m * 200 + b
8.5 = m * 300 + b
-------------------------- subtract
-0.5 = -100 m
m = 0.5/100 = 0.005
so
8 = 0.005 * 200 + b
8 = 1 + b
7 = b
so
p = 0.005 d + 7
by the way I think you have a typo. When price goes UP demand goes DOWN.
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