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Byju's Answer
Standard XI
Economics
The Budget Line
Total number ...
Question
Total number of words
262
278
Additional payment (cents)
36
84
Fixed payment for 250 words is $31. Find the equation representing the above data.
A
y
=
2
x
+
3100
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B
y
=
3
x
+
2500
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C
y
=
2
x
+
2500
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D
y
=
3
x
+
3100
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Solution
The correct option is
D
y
=
3
x
+
3100
Here it is given that,
Initial value for 250 words
=
$
31
=
3100
c
e
n
t
s
You know,
Rate of change = slope =
C
h
a
n
g
e
i
n
y
C
h
a
n
g
e
i
n
x
Consider the points (262,36) and (278,84).
By putting the values from graph, you get:
Slope (m)
=
84
−
36
278
−
262
=
48
16
=
3
∴ The rate of change is 3 cents/extra word.
You know, equation of a straight line is
y
=
m
x
+
c
So, by putting the value, you get the equation of the straight line as:
y
=
3
x
+
3100
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