True or False

1. The slope of a horizontal line is undefined.

2. Suppose the slope of a straight line L is -3/4 and P is a given point on L. If Q is a point on L lying 2 units to the right of P, then Q is situated 3/2 units below P.

3. The y-intercept of the straight line with equation Ax + By + C = 0 is –CIB (B 1 0).

4. If a line L1 has equation y = mx + b, where m and b are constants with m 1 0, then an equations of a line L2 perpendicular to L1 has the form y = -1/m x + C. where C is a constant.
5. Suppose an asset is being depreciated linearly. Then the rate of depreciation of the asset is given by the negative of the slope of the depreciated line.

6. If R and C are linear revenue and cost functions, respectively, and (X0, P0) is the breakeven point, then P(x) > P(X0) if X > X0, where P is the profit function.

7. The least-squares line must pass through at least one of the data points.