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y 4 = 3 4 ( x 4 ) y 4 = 3 4 x + 3 y = 3 4 x + 7

If we want to find the slope-intercept form without first writing the point-slope form, we could have recognized that the line crosses the y -axis when the output value is 7. Therefore, b = 7. We now have the initial value b and the slope m so we can substitute m and b into the slope-intercept form of a line.

This image shows the equation f of x equals m times x plus b. It shows that m is the value negative three fourths and b is 7. It then shows the equation rewritten as f of x equals negative three fourths times x plus 7.

So the function is f ( x ) = 3 4 x + 7 , and the linear equation would be y = 3 4 x + 7.

Given the graph of a linear function, write an equation to represent the function.

  1. Identify two points on the line.
  2. Use the two points to calculate the slope.
  3. Determine where the line crosses the y -axis to identify the y -intercept by visual inspection.
  4. Substitute the slope and y -intercept into the slope-intercept form of a line equation.

Writing an equation for a linear function

Write an equation for a linear function given a graph of f shown in [link] .

This figure shows an increasing function graphed on an x y coordinate plane. The x axis is labeled from negative 10 to 10. The y axis is labeled from negative 10 to 10. The function passes through the points (0, 2) and (-2, -4). These points are not labeled on this graph.

Identify two points on the line, such as ( 0 , 2 ) and ( −2 , −4 ) . Use the points to calculate the slope.

m = y 2 y 1 x 2 x 1 = −4 2 −2 0 = −6 −2 = 3

Substitute the slope and the coordinates of one of the points into the point-slope form.

y y 1 = m ( x x 1 ) y ( −4 ) = 3 ( x ( −2 ) ) y + 4 = 3 ( x + 2 )

We can use algebra to rewrite the equation in the slope-intercept form.

y + 4 = 3 ( x + 2 ) y + 4 = 3 x + 6 y = 3 x + 2
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Writing an equation for a linear cost function

Suppose Ben starts a company in which he incurs a fixed cost of $1,250 per month for the overhead, which includes his office rent. His production costs are $37.50 per item. Write a linear function C where C ( x ) is the cost for x items produced in a given month.

The fixed cost is present every month, $1,250. The costs that can vary include the cost to produce each item, which is $37.50. The variable cost, called the marginal cost, is represented by 37.5. The cost Ben incurs is the sum of these two costs, represented by C ( x ) = 1250 + 37.5 x .

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Writing an equation for a linear function given two points

If f is a linear function, with f ( 3 ) = −2 , and f ( 8 ) = 1 , find an equation for the function in slope-intercept form.

We can write the given points using coordinates.

f ( 3 ) = 2 ( 3 , −2 ) f ( 8 ) = 1 ( 8 , 1 )

We can then use the points to calculate the slope.

m = y 2 y 1 x 2 x 1 = 1 ( −2 ) 8 3 = 3 5

Substitute the slope and the coordinates of one of the points into the point-slope form.

y y 1 = m ( x x 1 ) y ( −2 ) = 3 5 ( x 3 )

We can use algebra to rewrite the equation in the slope-intercept form.

y + 2 = 3 5 ( x 3 ) y + 2 = 3 5 x 9 5 y = 3 5 x 19 5
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If f ( x ) is a linear function, with f ( 2 ) = –11 , and f ( 4 ) = −25 , write an equation for the function in slope-intercept form.

y = 7 x + 3

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Modeling real-world problems with linear functions

In the real world, problems are not always explicitly stated in terms of a function or represented with a graph. Fortunately, we can analyze the problem by first representing it as a linear function and then interpreting the components of the function. As long as we know, or can figure out, the initial value and the rate of change of a linear function, we can solve many different kinds of real-world problems.

Given a linear function f and the initial value and rate of change, evaluate f ( c ) .

  1. Determine the initial value and the rate of change (slope).
  2. Substitute the values into f ( x ) = m x + b .
  3. Evaluate the function at x = c .

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Algebra and trigonometry. OpenStax CNX. Nov 14, 2016 Download for free at https://legacy.cnx.org/content/col11758/1.6
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