Figure 4-2 -Refer to Figure 4-2. What Happens at a Price of a Price

question 200

Multiple Choice

Figure 4-2
-Refer to Figure 4-2. What happens at a price of $35?

• A)A shortage would exist and the price would tend to fall.
• B)A shortage would exist and the price would tend to rise.
• C)A surplus would exist and the price would tend to rise.
• D)A surplus would exist and the price would tend to fall.

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Definitions:

Slope-Intercept Form

An equation of the form y = mx + b, where m is the slope and b is the y-intercept of the line.

Parallel

Lines in a plane that never meet, no matter how far they are extended, because they have the same slope.

Line

A geometric figure that is one-dimensional, has no thickness, and stretches indefinitely in both directions is referred to as a line.

Y-Intercept

The point where a line or curve intersects the y-axis of a coordinate plane.