If we use the numbers in the above table to draw a graph, with the price on the vertical axis and the quantity on the horizontal axis, the curve relating price and quantity has a slope of
A) 8.0.
B) - 8.0.
C) 0.8.
D) - 1.25.

Question

Quizplus · Accepted Answer

To find the slope of the curve relating price and quantity, we need to determine the change in price (vertical axis) divided by the change in quantity (horizontal axis) between two points on the curve.

For example, if we consider the points (10, 2) and (14, 1), we can calculate the slope as:

(change in price) / (change in quantity) = (1 - 2) / (14 - 10) = -1 / 4 = -0.25

We can repeat this calculation for other pairs of points on the curve, and we will find that the slope is always negative and equal to -0.25. Therefore, the correct choice is D, which represents the value of the slope as a decimal.

If We Use the Numbers in the Above Table to Draw