--%>
Assignment Help - homework help

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?

E

Expert

Verified

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.

   Related Questions in Business Economics

  • Q : Price charges of firm in perfectly

    Assume that the equilibrium price within a perfectly competitive industry is $15 and a firm into the industry charges $21 there. Which of the given will occur: w) the firm's profits will rise. x) The firm's revenue will rise. y) The firm will not sell

    		•
  • Q : Show that students who study more hours

    Suppose studies show that students who study more hours receive higher grades.  Is there any relationship which guarantees that any particular student who studies longer will get higher grades?

    		•
  • Q : What is American made in today’s global

    Illustrates how hard it is to define what is “American made” in today’s global economy?

    		•
  • Q : Economics as a science Economics as a

    Economics as a science:We no longer ask the problem whether economics is an art or a science. Science is a systematized body of knowledge. Merely as physics and chemistry are sciences, econo

    		•
  • Q : What happens in the product markets

    What happens in the product markets?

    		•
  • Q : Decentralized a virtue of capitalism

    The idea which a virtue of capitalism is decentralized its decision making emerged while: (1) social philosophers looked for alternatives to feudal kings like economic regulators. (2) Russian imperialism fostered anti-communist sentiment after World W

    		•
  • Q : Principle of comparative advantage When

    When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag

    		•
  • Q : Economic concepts of academic subjects

    The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)

    		•
  • Q : Competitive market economy will make

    Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?

    		•
  • Q : Illustrate Other Things Equal revisited

    Illustrate “Other Things Equal” Revisited in Supply and Demand, and Equilibrium?

    		•