-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 line relating price and quantity has a slope of
A) 0.8.
B) -8.0.
C) -1.25.
D) 8.0.

Question

-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 line relating price and quantity has a slope of
A) 0.8. 
B) -8.0. 
C) -1.25. 
D) 8.0.

Quizplus · Accepted Answer

The slope of a line on a graph represents the rate of change between the variables on the x-axis (quantity) and the y-axis (price). The formula for slope is (change in y) / (change in x). A negative slope indicates that as the quantity increases, the price decreases, which is typical for a demand curve. A slope of -1.25 suggests that for every unit increase in quantity, the price decreases by 1.25 units, fitting the description of a negative relationship between price and quantity.

-If We Use the Numbers in the Above Table to Draw