Problema Solution
suppose a market research company finds that a price of p=$30, they would sell x=30 polo shirts each month. If they lower the price to p=$20, then more people would purchase the polo shirt, and they can expect to sell x=40 shirts in a months time. Find the equation for the line of the demand equation. write your answer in the form p=mx+b
Answer provided by our tutors
there are twp points (30,30) and (40,20)
the equation of line is as below:
p - 30 = [(40-30)/(20-30)] (x-30)
p - 30 = 10/-10 (x-30)
p - 30 = -(x-30)
p = -x + 60