ThinkWell Chapter 2.2

At what price will eight pizzas be demanded?

$8.00

Given the demand formula for frisbees of P = $8.30 − 1.23Q, what is the proper interpretation of the value of $8.30?

$8.30 represents the price that would cause the purchases of frisbees to drop to zero.

The slope of the line is defined by

A and C. The slope is determined by the change in y divided by the change in x and is used to figure the demand formula. In the equation P = $12 − .50Q, the slope is -.50.

Which statement about slopes is accurate?

A horizontal line has a zero slope, and a vertical line has an undefined slope.

The slope of a line on a graph is defined as

B and C. The slope of a line on a graph is calculated by dividing the change in the y-axis variable by the change in the x-axis variable. The common expression is "rise over run."

If the price drops from $12 to $6, how many more pizzas will be demanded?

Eight

The slope of a demand curve is the change in the x-axis variable divided by the change in the y-axis variable

false

A graph of the demand curve measures

the relationship between the price of a product and the quantity demanded.

The vertical intercept in the demand equation is the constant number.

true