If the price of apples is on the vertical axis and the quantity of apples demanded is on the horizontal axis, the slope between two points on the line describing the relationship between price and quantity is
A) price divided by quantity.
B) the change in price divided by the change in quantity.
C) the change in quantity divided by the change in price.
D) the change in price multiplied by the change in quantity.

Question

Quizplus · Accepted Answer

The slope of a line represents the change in one variable relative to a change in another variable. In this case, the slope of the line describing the relationship between price and quantity tells us how much the price changes for every unit change in quantity demanded. Therefore, the slope is the change in price (on the vertical axis) divided by the change in quantity demanded (on the horizontal axis), which is equivalent to choice B.

If the Price of Apples Is on the Vertical Axis