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?
Expert
Straight line slope is the ratio of the vertical change to horizontal change between any two points on the line.
1. The slope of a line will be positive if both variables change in the same direction (a positive or direct relationship).
2. The slope of a line will be negative if the variables change in the opposite direction (an inverse or negative relationship).
3. The numerical value of the slope will depend on the way the relevant variables are measured.
4. Economic analysis is often concerned with marginal changes, the relative change in one variable with respect to another; it is this rate of change that is measured by the slope.
5. Lines that are parallel with either the horizontal or vertical axis indicate that the two variables are not related, i.e. change in one variable has no effect on the value of the other.
a. A vertical line has an infinite slope.
b. A horizontal line has a zero slope.
Speculation is unlike arbitrage since: (1) speculative buyers always break even. (2) speculation causes increased costs. (3) speculators bear no risk. (4) positive returns for speculators are not sure. (5) competitive speculation equa
Define the Legal forms of businesses?
Distinguish clearly between a plant, a firm, and an industry?
Which of the given is not true for a firm within perfect competition: w) Profit equivalents total revenue minus total cost. x) Price equivalents average revenue. y) Average revenue is greater than marginal revenue. z) Marginal revenue equivalents the
Opportunity costs, which are the values of the: (i) monetary costs of goods and services. (ii) best alternatives sacrificed while choices are made. (iii) minimal budgets of families upon welfare. (iv) hidden charges passed upon to consumers. (v) exorb
Explain the cause of Trade barriers?
Explain: “Exchange is the necessary consequence of specialization.”
Illustrate Rational Behaviour of Economic Perspective?
Question: Monica has been considering buying a mountain bike. Last month Monica had an income of $30,000. The bike's price was $1000, the composite good price was $1, and she decided not to buy the bike. This month Monica was surprised t
Why producers not be able to find enough paying buyers for “public goods”?
18,76,764
1952642 Asked
3,689
Active Tutors
1427270
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!