Text problem 19-10
the value of cross price elasticity of demand between goods x and y is
which of the following are true?
of demand between goods x and z is - 0.75
oa. x and y and x and z are complements
ob. x and y are substitutes and x and z are complements.
oc. x and y are complements and x and z are substitutes.
od. x and y and x and z are substitutes
o e. none of the above.

y = 3/4x - 7/4

Step-by-step explanation:

Equation of a line with two points is

y_2 - y_1 / x_2 - x_1 = y -y _1 / x - x_1

We are provided with

( 21, 14)(49, 35)

x_1 = 21

y_1 = 14

x_2 = 49

y_2 = 35

Inserting the values

35 - 14/ 49 - 21 = y - 14/ x - 21

21/28 = y - 14/ x - 21

Cross multiply

21(x - 21) = 28(y - 14)

Open the brackets

21x - 441 = 28y - 392

21x - 441 + 392 = 28y

21x - 49 = 28y

Following the equation of line

y = mx + C

Divide through with 28 , to get y

28y / 28 = 21x - 49 / 28

y = 21x - 49/28

We can separate it

y = 21x / 28 - 49/28

y = 3/4x - 7/4

Therefore, the equation of line is y = 3/4x - 7/4