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Understanding Linear Equations in Economics
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Understanding Linear Equations in Economics

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Questions and Answers

Which linear equation correctly models the situation where x is the number of pounds of apples bought and y is the amount left on the gift card?

  • y - 15.53 = -1.49(x - 11)
  • y - 3 = -1.49(x - 3.61)
  • y - 3.61 = -1.49(x - 3)
  • y - 3.61 = -1.49(x - 11) (correct)
  • What does the y-intercept represent in the context of the gift card?

  • The amount left after buying the minimum number of pounds.
  • The amount Rachel spent buying apples.
  • The maximum number of pounds of apples Rachel can buy.
  • The original value of the gift card. (correct)
  • What is the meaning of the x-intercept in this situation?

  • The total weight of apples Rachel can buy.
  • The maximum weight of apples Rachel can purchase with her gift card.
  • The amount spent if all funds were used to buy apples.
  • The ending value of the gift card when no apples remain. (correct)
  • What does the slope of the equation represent?

    <p>The amount left on the gift card decreasing by $1.49 for each pound bought.</p> Signup and view all the answers

    If Rachel bought 5 pounds of apples, how much would be left on her gift card using the derived model?

    <p>$10.61</p> Signup and view all the answers

    Study Notes

    Linear Equation for Apple Purchases

    • The correct linear equation that models the situation is y-3.61 = -1.49(x-11)
    • This equation represents the relationship between the number of pounds of apples Rachel buys (x) and the amount left on her gift card (y).

    Y-Intercept Meaning

    • The y-intercept represents the original value of the gift card to the Arbor Day Orchard.
    • In this case, the y-intercept is the amount of money on the gift card when Rachel has bought zero pounds of apples.

    X-Intercept Meaning

    • The x-intercept represents the maximum number of pounds of apples Rachel can purchase.
    • At the x-intercept, the amount remaining on the gift card is zero, meaning Rachel has spent all of the gift card's value.

    Slope Meaning

    • The slope of the line (-1.49) represents the changing value of the gift card.
    • For each pound of apples Rachel buys, the amount remaining on the gift card decreases by $1.49.

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    Description

    This quiz explores linear equations through the context of apple purchases and gift card values. It covers key concepts like y-intercept, x-intercept, and slope, illustrating the mathematical relationships within a real-world scenario. Test your understanding of these principles and their implications in economics.

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