Exam 1: Extension: Understanding Graphs

Use the figure Area of a Triangle II. The triangle in the accompanying graph represents the welfare loss to consumers who no longer participate in a market after a tax is placed on a good. Calculate the area of the triangle. ​ Figure: Area of a Triangle II

Use Figure: Area of a Triangle I The rectangle in the accompanying graph represents the tax revenue that is gained when a tariff is placed on a good. Calculate the area of the rectangle. ​ Figure: Area of a Rectangle I

Jose has a chart showing the relationship between income and life expectancy in 100 countries. Each country has its own data point, but there is no line connecting the data points. What kind of graph does Jose have?

Use the figure The Production Possibilities Frontier I. What is the x-variable in this graph? ​ Figure: The Production Possibilities Frontier I

A scatter diagram shows a falling pattern of points in a graph representing the relationship between education and the probability of having a chronic illness. What can be concluded based on that pattern?

The price of a good is the y-variable and the quantity of a good that people want to buy is the x-variable. When the price of a hamburger increases from $10 to $12, the quantity of hamburger that people want to buy in a day decreases from 20 to 16. What is the slope of the line that describes the relationship between price and the quantity of hamburgers that people want to buy?

An economist wants to visualize whether there is a relationship between two variables by observing all of the different data points. What kind of graph is the most appropriate for this purpose?

Eloise has data on the different categories of spending on supplies at her company. She wants to illustrate this using a graph that shows a larger value - all spending on supplies - broken up into the smaller pieces for each category. What kind of graph should Eloise use?

Use the figure Area of a Rectangle III. The rectangle in the accompanying graph represents the loss to a firm when it produces a quantity of 20 at a price of $500. Calculate the area of the rectangle. ​ Figure: Area of a Rectangle III

Use the figure The Production Possibilities Frontier III. What is the slope of the line between point H and point I? ​ Figure: The Production Possibilities Frontier III

How is the slope of a line calculated?

Dorothy is interested in the relationship between how often she waters her plants and how many flowers they produce. What is true about the variable describing how often she waters her plants?

Use the figure Area of a Rectangle II. The rectangle in the accompanying graph represents the loss to a firm when it produces a quantity of 20 at a price of $10. Calculate the area of the rectangle. ​ Figure: Area of a Rectangle II ​

Use the figure A Firm's Profit. What is the correct method for calculating the area of the shape shaded in this graph? ​ Figure: A Firm's Profit

Use the figure The Production Possibilities Frontier III. What is the slope of the line between point I and point K? ​ Figure: The Production Possibilities Frontier III

Use the figure A Firm's Profit. What is the area of the shape shaded in this graph? ​ Figure: A Firm's Profit

What is represented by a point on a coordinate graph?

What measures can take on more than one value?

The rate at which a line rises or falls from left to right is its:

To find the slope of a straight line, you: