--%>
Assignment Help - homework help

Describe the equation of a linear relationship

Describe the equation of a linear relationship?

E

Expert

Verified

1. If the vertical intercept and the slope are known, the general form y = a + bx describes the line.

2. y represents the variable on the vertical axis (the dependent variable in standard mathematical form) a is the vertical intercept, b is the slope of the line, and x represents the variable on the horizontal axis (the independent variable in standard mathematical form).

3. The income—consumption example places the dependent and the independent in proper mathematical form.

4. The price-quantity example reverses their position and places price (the independent variable) on the vertical axis and quantity (the dependent variable) on the horizontal axis.

   Related Questions in Business Economics

  • Q : Comparative advantage in production I

    I have a problem in economics on Comparative advantage in production. Please help me in the following question. The oranges are grown in Florida and potatoes are grown in Maine mainly since: (i) orange-grower’s in Maine have not lobbied effectiv

    		•
  • Q : Favor laissez- faire economic policies

    Favor laissez- faire economic policies tended by Adam Smith, who also: (w) saw the requirement for several state intervention. (x) believed there were no conditions in which the government must intervene. (y) supported most government

    		•
  • Q : Least probability of competitive market

    The competitive market system is least probable to be allocatively unproductive as a result of: (w) externalities and public goods. (x) cutthroat competition and the outsourcing of low-wage jobs to less grown countries. (y) the underproduction of a go

    		•
  • Q : Slope of a straight line is the ratio

    Explain the slope of a straight line is the ratio of the vertical change to horizontal change between any two points on the line?

    		•
  • Q : Firms operating under Cournot

    Question: Suppose three identical firms are engaged in Cournot competition in quantities. They all have marginal costs equal to 40. Market demand is given by:

    Q : Garfield’s utility function Problem 2

    Problem 2 Consider Garfield's utility function given as U(x1, x2) = x1x2, wher

    		•
  • Q : Illustrate how Macroeconomics examines

    Illustrate how Macroeconomics examines the economy as a whole?

    		•
  • Q : Entrepreneurs and business are at the

    Explain the statements: Entrepreneurs and business are at the helm of the economy.

    		•
  • Q : Determine relative price when two

    When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z

    		•
  • Q : Describe composite cost of capital

    Briefly describe composite cost of capital? And also describe the procedure to calculate composite cost of capital?

    		•