To generate the profit from its online publishing service, SOBooks.com requires to know how demand for novels depends on price it charges. During first month of service, it was charging $10 per novel, and sold 350. Lowering price to $5.50 per novel had effect of increasing demand to 620 novels per month.
i) Use following data to create the linear demand equation.
ii) Use demand equation you constructed in part i) to evaluate demand if you raised price to $15 per novel.