ECO3041 - Ch 1 Appendix Review Qs

# ECO3041 - Ch 1 Appendix Review Qs - D 4 and 3 4...

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Chapter 1 Appendix - Review Questions Questions: Use the following to answer questions 1- 3: 1. Refer to the above diagram. The slope of curve ZZ at point A is: A) +2. B) +2 1 / 2 . C) -2 1 / 2 . D) +4. 2. Refer to the above diagram. The slope of curve ZZ at point C is: A) -4. B) -2. C) -2 2 / 5 . D) +3. 3. The slope of a line parallel to the vertical axis is: A) zero. B) one. C) infinite. D) one-half. 4. The slope of a line parallel to the horizontal axis is: A) zero. B) one. C) infinite. D) one-half. 1 | P a g e

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Chapter 1 Appendix - Review Questions 5. In the above diagram variables x and y are: A) both dependent variables. B) directly related. C) inversely related. D) unrelated. 6. In the above diagram the vertical intercept and slope are: A) 4 and -1 1 / 3 respectively. B) 3 and -1 1 / 3 respectively. C) 3 and + 3 / 4 respectively.
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Unformatted text preview: D) 4 and + 3 / 4 respectively. 7. In the above diagram the equation for this line is: A) y = 4 - 1 1 / 3 x . B) y = 3 + 3 / 4 x . C) y = 4 - 3 / 4 x . D) y = 4 + 1 1 / 3 x . 8. The amount of pizzas that consumers want to buy per week is reflected in the equation P = 15 - . 02 Q d , where Q d is the amount of pizzas purchased per week and P is the price of pizzas. On the basis of this information we can say that: A) if pizzas were free, people would consume 800 per week. B) more pizzas will be purchased at a high price than at a low price. C) if the price of pizzas is \$6, then 150 will be purchased. D) 50 fewer pizzas will be purchased per week for every \$1 increase in price. Answers: 1. B 2. C 3. C 4. A 5. C 6. A 7. A 8. D 2 | P a g e...
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ECO3041 - Ch 1 Appendix Review Qs - D 4 and 3 4...

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