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microbook_3e-page11 - 4. Graph these equations (placing Q...

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Homework #1B More Math Review Problems 1. Graph these equations (placing Y on the vertical axis and X on the horizontal axis): x Y = 2X + 2 x Y = 4X + 2 Comparing the two equations, which is different: the slope or the Y-intercept? How is it different? Are the lines parallel or do they intersect? 2. Graph these equations (placing Y on the vertical axis and X on the horizontal axis): x Y = 2 + 2X x Y = 2 – 2X Comparing the two equations, which is different: the slope or the Y-intercept? How is it different? Are the lines parallel or do they intersect? 3. Graph these equations (placing Q on the vertical axis and P on the horizontal axis): x Q = 4 + 2P x Q = 2 + 2P Comparing the two equations, which is different: the slope or the Q-intercept? How is it different? Are the lines parallel or do they intersect?
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Unformatted text preview: 4. Graph these equations (placing Q on the vertical axis and P on the horizontal axis): x Q = 4 2P x Q = 2 + 2P These two equations have different slopes and different Q-intercepts. Do the lines intersect? If so, can you find the value of P and Q at which they intersect? 5. Solve these two equations for P. Then graph the new equations by placing P on the vertical axis and Q on the horizontal axis: x Q = 4 2P x Q = 2 + 2P Do the lines intersect? If so, can you find the value of P and Q at which they intersect? X Y (1st) Y (2nd) X Y (1st) Y (2nd) P Q (1st) Q (2nd) P Q (1st) Q (2nd) Q P (1st) P (2nd) If demand curves slope down and supply curves slope up, then which of these two equations resembles a demand curve? Which resembles a supply curve? Page 11...
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This note was uploaded on 12/29/2011 for the course ECO 311 taught by Professor Willis during the Fall '10 term at SUNY Stony Brook.

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