This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain how to calculate the slope of a line. What does the slope measure? What will be an ideal ... (Read 124 times)

krzymel

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
Explain how to calculate the slope of a line. What does the slope measure?
 
  What will be an ideal response?

Question 2

Suppose that the price elasticity of demand for an ice cream cone is -1.9 . If the local ice cream shop owner wants to increase total revenue, what would you recommend he or she do?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

momolu

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

The slope of a line is a measure that indicates whether the relationship between the variables is positive or negative. It tells us how much of a response there is in variable y (on the vertical axis) when variable x (on the horizontal axis) changes. The slope is calculated by taking the change in variable y and dividing by the change in variable x.

Answer to Question 2

The owner should lower the price of ice cream cones. Since demand is elastic, the percentage increase in quantity demanded will be larger than the percentage decrease in price. Therefore, total revenue will rise.


krzymel

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
Wow, this really help

amandalm

  • Member
  • Posts: 306
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

When to measure vital signs When to measure vital signs
The end of a typical line wrench, which shows that it is capable of grasping most of the head of ... The end of a typical line wrench, which shows that it is capable of grasping most of the head of ...
Calculate the magnitude and direction of the resultant for Calculate the magnitude and direction of the resultant for
Please fully explain the answer with steps Please fully explain the answer with steps
A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ... A 60-kg skier starts from rest from the top of a 50-m high slope. If the work done by friction ...
Derive the following using the increment/delta method and find its slope Derive the following using the increment/delta method and find its slope
Video: Cellular defenses (natural killer cells, phagocyte types & process of phagocytosis)

For a complete list of videos, visit our video library