EBK INTERMEDIATE MICROECONOMICS AND ITS
EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Chapter 1A.2, Problem 1MQ
To determine

To find: the units and slopes in the equation.

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What is the slope of the line to the equation P=30−1/2Q?
Compute for the slope based on the illustrated results. What is the implication of the result?
Suppose the following equation describes the relationship between the average number of classes missed during a semester (missed) and the distance from school (distance, measured in miles): missed = 3 +0.2 distance (i) Sketch this line, being sure to label the axes. How do you interpret the intercept in this equation? (ii) What is the average number of classes missed for someone who lives five miles away? (iii) What is the difference in the average number of classes missed for someone who lives 10 miles away and someone who lives 20 miles away?
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