The catalog store has data indicating that, when the price of a cd bookcase is $134, the demand quantity is 96 and the supply quantity is 120. the equilibrium point occurs when the price is $100 and the quantity is 112. find the linear demand equation.

A linear function has the form y = ax + b

In this case, x is the price and y is the demand.

And you can state the values of the constants a and b if you know two points.

Here you know the points (134, 96) and (100, 112).

Using (134, 96) you get 96 = 134a + b

Using (100, 112) you get 112 = 100a + b

Now you just have to solve that system of two equations.

subtract the second from the first:

112 - 96 = 100a - 134a = > -34a = 16 = a = - 16 / 34 = -8/17

And now you can find the constant b from any of the two equations of the system:

b = 112 - 100a =  112 - 100(-8/17) = 112 + 800/17 = [1904+800]/17 = 2704/17

=

The the equation if -8/17 x + 2704/17

-(8/17)x + 2704/17

 

As you know john locke said he wanted life liberty and the pursuit of happiness so thomas jefferson was inspired about what john locke said so thomas jefferson wrote the declaration of independence for people to be free for people to be happy

In this problem it decreased 20%