Find the Slope-Intercept Form of the Equation of the Line

question 117

Multiple Choice

Find the slope-intercept form of the equation of the line with the given properties.
-Find the equation of the vertical line passing through the point (4, -1) .

• A)y = -1
• B)x = -1
• C)x = 4
• D)y = 4

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, opposite to normal goods.

Income Elasticity

A measure of how much the quantity demanded of a good responds to a change in consumers' income, holding all other factors constant.

Expenditures Decline

A situation where there is a reduction in spending by individuals, businesses, or governments.

Elastic Demand

A condition where the demand for a product is significantly responsive to changes in its price.