Question

a. Suppose that a market research company finds that at a price of p = $40, they would sell x = 37 tiles each month. If they lower the price to p = $25, then more people would purchase the tile, and they can expect to sell x = 52 tiles 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)).

Answer 1

1. Suppose a market research company finds that at a price of p = $35, they would sell x = 50 tiles each month. If they lower the price to p = $25, then more people would purchase the tile, and they can expect to sell x = 70 tiles in a month’s time. Find the equation of the line for the demand equation. Hint: Write your answer in the form p = mx + b.

Answer 2

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 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).