If the diagram of a line shows that lower values on the vertical scale are associated with higher values on the horizontal scale this is an example of ?
Correct answer: D. a negative linear relationship
- A. a nonlinear relationship
- B. a positive linear relationship
- C. a scatter diagrams
- D. a negative linear relationship
Explanation
When higher values on the horizontal axis correspond to lower values on the vertical axis, the variables move in opposite directions. A straight-line relationship with this pattern is a negative linear relationship.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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