Determine Whether the Line That Passes Through the Two Given

question 206

Essay

Determine whether the line that passes through the two given points is parallel or perpendicular (or neither ) to a line with a slope of - 2. (6, 2), (8, 3)

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Definitions:

Substitution Effect

The economic principle that as the price of a good or service rises, consumers will replace it with cheaper alternatives, affecting the demand for goods.

Normal Good

A Normal Good is a type of good for which demand increases as the income of consumers increases and decreases when consumer income decreases, all else being equal.

Indifference Curve

A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.