Answer:
x = 2100 - 20p
Step-by-step explanation:
Let the quantity demanded be 'x'
unit price be 'p'
thus, from the given relation in the question, we have
p (100) = $100
and,
p (1100) = $50
now, from the standard equation for the line
[tex]\frac{\textup{p - p(100)}}{\textup{x - 100}}[/tex] = [tex]\frac{\textup{p(1100) - p(100)}}{\textup{50 - 100}}[/tex]
or
[tex]\frac{\textup{p - 100}}{\textup{x - 100}}[/tex] = [tex]\frac{\textup{50 - 100}}{\textup{1100 - 100}}[/tex]
or
1000 × (p - 100) = - 50 × ( x - 100 )
or
20p - 2000 = - x + 100
or
x = 2100 - 20p
