change in slope change in y ymx xD� = =D1 0 change in y y y y=D = - ECONS 101 – 1st Edition Lecture 5 Outline of Last Lecture I. Production Possibilities Frontier (PPF) [Cont.] Part 3:a. Efficiencyb. Trade-OffsOutline of Current Lecture I. Graphing in Economics Current LectureGraphing:- The Casual Relationship:o Independent Variable: Determines the relationship- Usually the X-Variableo Horizontal Axis (X-Axis)o Dependent Variable: What is being determined in the relationship- Usually the Y-Variableo Vertical Axis (Y-Axis)- Ingredients of a Graph:o Functional Form Y = mx + d (m ≤ 0)- Negative Sloped Line Y = mx + c (m ≥ 0) - Positive Sloped Lineo Slope:o Components of Slope:These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Geometry:
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