A good without any close substitutes is likely to have relatively _________ demand, because consumers cannot easily switch to a
1 answer:
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Sorry this is really sloppy but hope this helps!
Answer:
5.5
Step-by-step explanation:
The y-intercept of the line graph shown above is the value of the point where the line cuts the y-axis. The y-intercept of this graph is between 5 and 6. However, we can get an accurate value by calculation. This can be done by generating an equation of the line.
Recall the slope-intercept equation, , where m = slope of the line, b = y-intercept.
To generate the equation of the line, first find slope using the points (-2, 7) and (6, 1):
.
Substitute m = ¾ and the coordinates (6, 1) into the slope-intercept equation to find the y-intercept (b):
Therefore, b = y-intercept = 5.5.
To generate the equation of the line, plug in the values of m and b, we would have:
y = ¾x + 5.5
The y-intercept of the line of the graph is 5.5.