Expert: Paul Klarreich - 12/8/2008

Question
I need help with this problem. the P=$20 and the company is selling only x=42 tiles, but if they lower the p=$10 they may be able to sell x=52 within in a month. I need to find the equation of the line for the demand equation.According to the assignment the I need to write it as p=mx+b.  Please help.

Answer
Questioner:   martha
Category:  Advanced Math
Private:  No
 
Subject:  math question
Question:  I need help with this problem. the P=$20 and the company is selling only x=42 tiles, but if they lower the p=$10 they may be able to sell x=52 within in a month. I need to find the equation of the line for the demand equation.According to the assignment the I need to write it as p=mx+b.  Please help.
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Hi, Martha,

You are simply finding the equation of a line given two points:

(x,p) = (42,20)
(x,p) = (52,10)

Find the slope, m,

Then use the point-slope form:

p - p0 = m(x - x0)

using either point as your (x0.p0)