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Chapter 1: Q 5 (page 26)

Given the function y=5x, complete the following schedule and plot the curve.

y
x

-4

-2

0

2

4

Short Answer

Expert verified

The completed schedule is,

y
x
-20-4
-10-2
00
102
204

The curve for the schedule is,

Step by step solution

01

Step 1. Given Information.

The schedule was given as follows for the functiony=5x,

y
x

-4

-2

0

2

4
02

Step 2. Completed Schedule

The functions is y=5xand the completed schedule is as follows,

y
x
y=5(-4)
=-20		-4
y=5(-2)
=-10		-2
y=5(0)
=0
0
y=5(2)
=10		2
y=5(4)
=20		4
03

Step 3. The curve

The curve for the function y=5xis,

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Most popular questions from this chapter

Calculate the slope of the function you graphed in Problem A-5.

Maneesha has completed an analysis of the market for prescription medication. She has determined that the policymaker should act to prevent an increase in the price of this drug on the grounds that the mainly elderly consumers of the medication already have spent their lives paying too much for pharmaceuticals. They ought not to have to pay higher prices, Maneesha has concluded, so the government should act to halt any further price increases in the market. Has Maneesha applied positive or normative economic analysis?

Evaluate the role that rational self-interest plays in economic analysis.

Based on your answer to Problems 1–12, categorize each of the following conclusions as being the result of positive analysis or normative analysis.

(a) A higher minimum wage will reduce employment opportunities for minimum wage workers.

(b) Increasing the earnings of minimum wage employees is desirable, and raising the minimum wage is the best way to accomplish this.

(c) Everyone should enjoy open access to health care at no explicit charge.

(d) Heath care subsidies will increase the consumption of health care.

Why does the assumption of bounded rationality suggest that people might use rules of thumb to guide their decision-making instead of considering every possible choice available to them?
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