When You Plot a Linear Function in a Chart, the Result

question 112

Multiple Choice

When you plot a linear function in a chart, the result is a ____.

• A) straight line
• B) curved line
• C) bar
• D) circle

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Definitions:

Price

The amount of money required to purchase a good or service; it acts as a signal between sellers and buyers.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.

Willingness to Pay

The maximum amount an individual is prepared to spend to acquire a good or service or avoid something undesirable.