For each of the following lines:

(i) y = 10 − 2.5x (ii) y = −2.5 + 10x (iii) 4y +
2x = 60

(a)...

Question

For each of the following lines:

(i) y = 10 − 2.5x (ii) y = −2.5 + 10x (iii) 4y +
2x = 60

(a) Calculate the slopes and intercepts.

(b) Write down the number of units by which y changes when x
increases by 1 unit.

(c) Plot the lines.

 The equation of a demand function is given by Q = 64
− 4P where Q is the number of helicopter flights demanded daily; P is the
price per flight, in £00s.

(a) Plot the demand function with Q on the vertical axis.

(b) What is the change in demand (Q) when price (P)
increases by 1 unit?

(c) What is the demand when P = 0?

(d) What is the price when Q = 0?

Describe the answers to (b), (c) and (d) verbally.

Rajeswari · Accepted Answer

111689 assignment
A straight line equation can be brought to y = mx+b form by suitable operations.  In such a case, m is the slope and b is the intercept
Slope represents the change in x for unit change in x.   If slope is negative, y decreases for unit increase in x and vice versa.
a) Finding slopes and intercepts:
i. Y =10-2.

For each of the following lines: (i) y = 10 − 2.5x (ii) y = −2.5 + 10x (iii) 4y + 2x = 60 (a) Calculate the slopes and intercepts. (b) Write down the number of units by which y changes when x...

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