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 81 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
Thanks for the timely response, appreciate it

jordangronback

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

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.

Using a goniometer to measure joint ROM. Using a goniometer to measure joint ROM.
A typical peak-and-hold fuel-injector waveform. Most fuel injectors that measure less than 6 ohms ... A typical peak-and-hold fuel-injector waveform. Most fuel injectors that measure less than 6 ohms ...
Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ... Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ...
The line with the equation y=5x+12 intersects the parabola with equation y=xsqared+7x-3 at the ... The line with the equation y=5x+12 intersects the parabola with equation y=xsqared+7x-3 at the ...
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Number line (real numbers) Number line (real numbers)
Video: The Pressure Flow Model in a Plant

For a complete list of videos, visit our video library