Find the Slope and Y-Intercept of the Line $= \frac { 1 } { 6 } ; y$

question 133

Multiple Choice

Find the slope and y-intercept of the line.
-x + 6y = 1

• A) slope \(= \frac { 1 } { 6 } ; y\)-intercept \(= \frac { 1 } { 6 }\)
• B) slope \(= - 6 ; y\)-intercept \(= 6\)
• C) slope \(= - \frac { 1 } { 6 } ; \mathrm { y }\)-intercept \(= \frac { 1 } { 6 }\)
• D) slope \(= 1 ; y\)-intercept \(= 1\)

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Definitions:

Perfectly Competitive Firm

A company that operates in a market where there are many buyers and sellers, none of which can influence the market price.

Long-Run Equilibrium

A state where all factors of production in an economy are fully adjusted to market conditions, leading to stable prices and full employment of resources.

Profit Maximization

The method a company uses to decide the price and production amount that yields the highest profit.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing the excess earnings over the next best alternative.