Econ 201 Thinkwell 1.2.4 Understanding the Slope of a Linear Function
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A steeply-sloping demand curve shows
that the change in quantity demanded is not very sensitive to a change in price.
The slope of the demand curve is measured by
the change in price divided by the change in the quantity demanded.
A relatively flat demand curve indicates that the demand for a product is very sensitive to a change in price.
true
The slope of a linear function depends on the units of measurement.
true
Consider the equation of linear function y = −4 + 7x. If it were graphed, the slope would be
7.
