Linear Functions in Economics

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10 Questions

What is the general form of a linear function?

y = f(x) = a + bx

Which term in a linear function represents the y-intercept?

a

What does the coefficient 'b' in a linear function represent?

Slope

Which variable is considered the independent variable in a linear function?

x

In a linear function, what is the value of the dependent variable when x = 0?

a

If a linear function has a negative slope, what does this indicate about the relationship between the independent and dependent variables?

They have a negative correlation

In a linear function where b = 0, what characteristic of the function is highlighted?

The linear function is a constant function

If in a linear function, the slope 'b' is greater than 1, how would you describe the relationship between the variables?

The dependent variable increases at a faster rate than the independent variable

If the y-intercept 'a' in a linear function is negative, what does this imply about the relationship between the variables?

The dependent variable decreases when the independent variable increases

What happens to the graph of a linear function if the coefficient 'b' is zero?

The graph becomes a straight horizontal line

Explore the concept of linear functions in economics, a simple and important mathematical tool with various applications. Learn about the structure of linear functions, including the constant term and coefficient. Understand how linear functions are represented by straight lines in graphs.

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