Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter 2.A, Problem 7QE
(a)
To determine
Demonstrate the equation when the slope changes.
(b)
To determine
Demonstrate the shift in curve in the equation.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Draw the graph of U = q1 + aq2 and U= q1^2 + q2^2. Interpret the parameter and shape of the curve.
The line in the graph shows a relationship between two variables, x and y.
What is the slope of the curve?
...
The slope of the curve is
>>> If the slope is negative, use a minus sign. If the slope is positive, do not use a plus
sign.
8
7
5-
4-
3-
2-
1-
0-
y
0
1
2
3
4
1. Solve the following problem by using Excel for graph sketching.
A soda vendor at Louisiana State University football games observes that more sodas
are sold the warmer the temperature at game time is. Based on 32 home games
covering five years, the vendor estimates the relationship between soda sales and
temperature to be y = -240 + 8x, where y = the number of sodas she sells and .x =
temperature in degrees Fahrenheit,
(a) Interpret the estimated slope and intercept. Do the estimates make sense? Why,
or why not?
(b) On a day when the temperature at game time is forecast to be 80°F, predict how
many sodas the vendor will sell.
(c) Below what temperature are the predicted sales zero?
(d) Sketch a graph of the estimated regression line.
Chapter 2 Solutions
Microeconomics
Ch. 2.1 - Prob. 1QCh. 2.1 - Prob. 2QCh. 2.1 - Prob. 3QCh. 2.1 - Prob. 4QCh. 2.1 - Prob. 5QCh. 2.1 - Prob. 6QCh. 2.1 - Prob. 7QCh. 2.1 - Prob. 8QCh. 2.1 - Prob. 9QCh. 2.1 - Prob. 10Q
Ch. 2.A - Prob. 1QECh. 2.A - Prob. 2QECh. 2.A - Prob. 3QECh. 2.A - Prob. 4QECh. 2.A - Prob. 5QECh. 2.A - Prob. 6QECh. 2.A - Prob. 7QECh. 2.A - Prob. 8QECh. 2 - Prob. 1QECh. 2 - Prob. 2QECh. 2 - Prob. 3QECh. 2 - Prob. 4QECh. 2 - Prob. 5QECh. 2 - Prob. 6QECh. 2 - Prob. 7QECh. 2 - Prob. 8QECh. 2 - Prob. 9QECh. 2 - Prob. 10QECh. 2 - Prob. 11QECh. 2 - Prob. 12QECh. 2 - Prob. 1QAPCh. 2 - Prob. 2QAPCh. 2 - Prob. 3QAPCh. 2 - Prob. 4QAPCh. 2 - Prob. 5QAPCh. 2 - Prob. 1IPCh. 2 - Prob. 2IPCh. 2 - Prob. 3IPCh. 2 - Prob. 4IPCh. 2 - Prob. 5IPCh. 2 - Prob. 6IP
Knowledge Booster
Similar questions
- Calculate the slope and vertical intercept of the line that goes through the points described in the table below. 9 9 X y 0 72 vertical intercept = slope = 1 65 2 58 3 51 4 44 5 37 6 30 7 23 8 16arrow_forwardThe table gives information about the relationship between two variables, x and y. The relationship between x and y is ______ and the slope of the relationship ______ as x increases. x 2 4 6 8 10 y 196 192 188 184 180arrow_forwardWhat is the slope of the line to the equation P=30−1/2Q?arrow_forward
- The following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. Y-axisX-axisBDCA For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ ice-cream" and Y-axis should be labeled "The temperature". Scenario Relationship Line As the temperature rises, the demand for ice-cream rises. Negative As the temperature rises, the demand for hot cocoa falls. Positive As the temperature falls, the demand for popsicles falls. Negative True or False: Line B has a slope of infinity.…arrow_forwardIn the accompanying graph, is the slope of curve A A' positive or negative? Does the slope increase or decrease as we move along the curve from A to A'? Answer the same two questions for curve BB'.arrow_forward8arrow_forward
- The blue curve on the following graph shows the height of an airplane over 10 minutes of flight. The two black lines are tangent to the curve at the points indicated by A and B. ALTITUDE (Thousands of feet) 40 35 25 20 ō 5 0 0 1 2 3 A 4 5 6 TIME (Minutes) 7 8 B 9 10arrow_forwardWhich one of the following is not true about slope? A, It is vertical change over horizontal change B, The slope of a line represents the change in one variable that occurs when the other variable changes C, The slope of straight line between any two point on the line is negative D Slope= y2-y1/x2-x1arrow_forwardIn the accompanying graph, is the slope of curve AA′ positive or negative? Does the slope increase or decrease as we move along the curve from A to A′? Answer the same two questions for curve BB′.arrow_forward
- Construct a table from the data shown on the graph below. Which is the dependent variable and which the independent variable? Summarize the data in equation form.arrow_forwardErin grows pecans. The number of bushels (B) that she can produce depends on the number of inches of rainfall (R) that her orchards get. The relationship is given algebraically as follows: B = 3,000 + 800R. Match each part of this equation with the correct term. B slope 3,000 dependent variable 800 vertical intercept R independent variablearrow_forward1…8arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Principles & PolicyEconomicsISBN:9781337794992Author:William J. Baumol, Alan S. Blinder, John L. SolowPublisher:Cengage Learning
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Microeconomics: Principles & Policy
Economics
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning