Write the Equation of the Line in Slope-Intercept Form $m = - \frac { 4 } { 5 } , y$

question 80

Multiple Choice

Write the equation of the line in slope-intercept form.
- $m = - \frac { 4 } { 5 } , y$ -intercept $( 0,6 )$

• A) \(y = - \frac { 4 } { 5 } x + 6\)
• B) \(y = - \frac { 4 } { 5 } x - 6\)
• C) \(y = \frac { 4 } { 5 } x - 6\)
• D) \(y = \frac { 4 } { 5 } x + 6\)

Determine the outcomes of excess supply or demand in market equilibrium.

Understand the implications of changes in income on demand for normal goods.

Evaluate the impact of supply and demand equations on market equilibrium prices and quantities.

Comprehend the role of substitutes in market dynamics and how changes in the supply of one good can affect the price of substitute goods.

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Definitions:

Increasing Return to Scale

When an increase in the amount of inputs results in a disproportionate increase in the output produced.

Increasing Return to Scale

A situation in which output increases by a larger proportion than the increase in inputs in the production process.

Long-Run Average Cost Curve

A curve showing the minimum average cost at which a firm can produce any given level of output in the long term, when all inputs are variable.

Small Firms

Small firms are businesses with a relatively small number of employees, limited revenue, and a localized operational base, often contributing significantly to innovation and employment.