Macroeconomics
13th Edition
ISBN: 9781337617444
Author: Roger A. Arnold
Publisher: Cengage
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Question
Chapter A, Problem 5QP
To determine
The slope.
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What is the slope of the line to the equation P=30−1/2Q?
24
PRICE (Dollars per box)
21
18
15
12
0
0
6 12 18 24 30 36 42 48
QUANTITY (Thousands of boxes)
54
60
•+
Point
The slope of the line between points a and b is
4
.25
-4
-.25
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Similar questions
- In a straight line, the value of the slope differs in different points in the line. True Falsearrow_forwardAccording to Exhibit A-5, what is the relationship between the price per pizza and the quantity of pizzas purchased? a. Direct b. Inverse c. Complex d. Independentarrow_forward“The hotter it gets, the more water people drink.” This statement implies that the relationship between temperature and water consumption must have a ____________. positive slope.slope always equal to one.slope always equal to 45 degrees.negative slope.arrow_forward
- Which one of the following is not true about slope? A, It is vertical change over horizontal change B, The slope of a line represents the change in one variable that occurs when the other variable changes C, The slope of straight line between any two point on the line is negative D Slope= y2-y1/x2-x1arrow_forwardSuppose the relationship between the government's tax revenue (T) and national income (Y) is represented by the equation T = 30 +0.5Y. Plot this relationship on a scale diagram, with Y on the horizontal axis and T on the vertical axis. Interpret the equation. Use the line drawing tool to draw the equation. Make sure to plot the vertical axis as one endpoint of the line. Properly label this line. Carefully follow the instructions above, and only draw the required objects.arrow_forward1. Solve the following problem by using Excel for graph sketching. A soda vendor at Louisiana State University football games observes that more sodas are sold the warmer the temperature at game time is. Based on 32 home games covering five years, the vendor estimates the relationship between soda sales and temperature to be y = -240 + 8x, where y = the number of sodas she sells and .x = temperature in degrees Fahrenheit, (a) Interpret the estimated slope and intercept. Do the estimates make sense? Why, or why not? (b) On a day when the temperature at game time is forecast to be 80°F, predict how many sodas the vendor will sell. (c) Below what temperature are the predicted sales zero? (d) Sketch a graph of the estimated regression line.arrow_forward
- Refer to Exhibit 4-5. A change from Point A to Point C represents a(n):arrow_forwardThe predicted value of Y is... a. The value that y takes on when X equal 0 b. The effect that a one unit change in dependent variable is expected to have on the independent variable, holding all else constant c. The value of Y when the slope is multiplied a specific X and then that value is added to the intercept d. The observed value of the dependent variable that is associated with a specific value of the independent variable.arrow_forwardThe table gives information about the relationship between two variables, x and y. The relationship between x and y is ______ and the slope of the relationship ______ as x increases. x 2 4 6 8 10 y 196 192 188 184 180arrow_forward
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