MAT 109 Lecture Notes - Lecture 6: Economic Equilibrium
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4. 1 linear functions and their properties notes: sterling. Give a de nition to each of the terms listed in this section. Any function in the form of f (x) = mx + b. 3 linear function"s average rate of change m = X f (x2) f (x1) x2 x1. When a linear function is increasing over its given domain, its slope will be positive. When a linear function is decreasing over its given domain, its slope will be negative. When a linear function is constant over its given domain, its slope will be zero. The price of any product that a company"s actually willing to make available for sale. The price of any product that the consumers are actually willing to to pay. The price at when the supplied quantity is equaled to the demanded quantity, which by equation is s(p) = d(p). The demanded or supplied amount at the equilibrium price.
