20. Public goods are referred to a: D00- goode Thie means no one Individual can be the access of benefit to thi good. 21. Transfer payments are the of docome by the government These transfere olove resources from the sector the sector as a means of social programs. EQUATIONS Please use the following equation(s) to help solve problems for this chapter. Equation for the slope of a line Related concepts : law of demand, demand curve, law of supply, supply curve, price elasticity of demand. AF Elope le #: A x AQ For example: P2 = $25.00 Q2 = 150 PL = $75.00 DL = 60 25-75 -50 150 -60 90 9 or - .55 Line Slope/Intercept Formula P = mQ + b 75 = (- .55) 60 1 6 75 = - 33 + E 108 = E Price Elasticity of Demand %AQ KAP - PED -45 - 86 Area of a Triangle 5bxh - Area 5(P2 - P1) x (Q1 - Q2) - Area -5(4 80 - 3.80) x (10,000 - 9,000) - 500