AboutSteve Holleran Expertise I can help with all math questions from basic math to Calculus.
Whether it`s consumer questions, or questions from high school or college students, I have probably dealt with it at some time in my career.
Experience 33 years teaching experience in NJ public schools
Education/Credentials B.S. Mathematics : Wake Forest University 1972
M.S. Mathematics : Monmouth University 1981
Question Suppose that a market reseach company finds that at a price of p=$20, they would sell x=$42 tiles each month. If they lower the price to p=$10, they more people would purchase 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 of p=mx+b. (Hint: Write an equation using two points in the form (x,p))
Answer Hi Tino,
From the information you've given, you have two points of information, in the form (x, p):
(42, 20) and ( 52, 10)
from these you get the slope of the function m = (20 - 10)/(42 - 52)
