Answer to Question #66162 in Microeconomics for usman

Question

Draw a graph without specific data for the expected relationship between the following variables: a. The probability of living and age. b. Annual income and years of education. c. Inches of snow and sales of bathing suits. d. The number of football games won and the athletic budget. In each case, state whether the expected relationship is direct or inverse. Explain an additional factor that would be included in the ceteris paribus assumption because it might change and influence your theory. what is the answer of this question kindly tell me

Answer 1

a. The probability of living and age - inverse relationship.
b. Annual income and years of education - direct relationship.
c. Inches of snow and sales of bathing suits - inverse relationship.
d. The number of football games won and the athletic budget - direct relationship.
An additional factor that would be included in the ceteris paribus assumption is that other factors should remain constant because it might change and influence your theory.