Appendix Answers

Appendix Answers - $0.00 $0.20 $0.40 $0.60 $0.80 $1.00...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 Appendix A Page 26 1a. direct 1b. inverse 1c. direct 1d. no relationship 1e. direct 3. This is an example of an inverse relationship (price rises, quantity demanded falls). 1000, $0.25 800, $0.50 700, $0.70 500, $0.95 400, $1.00 350, $1.10
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 200 400 600 800 1000 1200 Quantity Demanded 3b. Slope AB = -0.25/200 = -.00125 3c. Slope EF = -0.10/50 = -.002 3d. As price falls by $.002, quantity demanded rises by 1 unit....
View Full Document

Ask a homework question - tutors are online