SOLUTION: I am in an economics class and i have to graph two lines represented by these equtions. (Q=Y , P=X) Q=24000-500P Q=6000+1000P i know tht i have to use y=mx+b to find the slop

Question 10088: I am in an economics class and i have to graph two lines represented by these equtions.
(Q=Y , P=X)
Q=24000-500P
Q=6000+1000P
i know tht i have to use y=mx+b to find the slope and that in the first one 24000 should be the y intercept . wha scale should tbe x axis be on . pleas tell me if this makes any sense to you .
thanks for your help.
John
Answer by longjonsilver(2297) (Show Source): You can put this solution on YOUR website!
right, you need to graph them, ie plot them.

So forget the y=mx+c approach..this just tells you the info like gradient, but that doesn't help you plot the actual lines.

Answer the following:
1. have you been told what values of "x" and "y" to plot?
2. Negative "x" values?

if not, then use your own initiative and pick a valid spread of "x" values... try 0 to 10 perhaps?

Draw your axes

As these are straight lines, you only need pick 2 points on both lines and just join them, so pick x=0 and x=10 (if you use this spread).

The thing to be aware of is that 2 lines like this are boring as hell except where they cross, because that means something both mathematically and in your case economically, so x=0 to x=10 may not be the correct spread to include the crossover point, so trial and error is needed by you :-)

Enjoy

jon.

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