Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 1.A, Problem 3P
To determine
Whether the curves are positive or negative.
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For each of the graphs in Figure 1, determine whether the curve has a positive or negative slope. Give an intuitive explanation for what is happening with the slope of each curve.
The accompanying graph shows curve XX′ and tangents at points A, B, and C. Calculate the slope of the curve at these three points.
In the accompanying graph, is the slope of curve A A' positive or negative? Does the slope increase or decrease as we move along the curve from A to A'? Answer the same two questions for curve BB'.
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- 3. Curves On the first graph, label the maximum of the curve. On the second graph, plot the corresponding slope of the curve. Using terminology presented in class, explain what is happening to the slope starting at the origin and moving right. Be specific about how the slope changes in relationship to the maximum of the curve. Y x Xarrow_forwardOn a graph, a positive linear relationship moves down from left to right. This statement is right or wrong? WHY?arrow_forwardStores commonly offer a cheaper unit price for large quantity purchases. Quantity Unit Price 100.00 80.00 70.00 50.00 40.00 Down 1 2 5 10 20 B P a. Make a graph of the data large enough to include a quantity of 30 (use graph paper, label completely, and choose the correct axis for the independent (x) and dependent (y) variables). b. Find the slope between quantities 1 and 2. Explain the meaning of the slope in context. The slope is which means Select an answer c. Find the slope between quantities 5 and 10. d. Add a trend line to the graph. e. Estimate the unit price for a quantity of 30 to the nearest dollar. S f. Estimate the quantity for a unit price of $44 to the nearest unit. unitsarrow_forward
- Determine the area and construct the normal curve of the following. a. area below z = 2 b. area above z = –1.75 c. –1.5 < z < 1.5arrow_forwardS The accompanying graph shows curve XX' and tangents at points A, B, and C. Calculate the slope of the curve at these three points. 50 40 30 U 20 10 A = B = (2, 10) II a X A (12, 50) ac (16, 50) B b' Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. The slope at: C (26, 10) X' Graph for Problem 7 0246 8 10 12 14 16 18 20 22 24 26 28arrow_forwardexplain the various properties of iso-quant curve with the help of their graphs. Indicate the right and wrong curves both.arrow_forward
- The following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ The average grade received" and Y-axis should be labeled "The number of hours spent studying". Scenario: As the number of hours spent studying rises, the average grade received rises. Relationship: Positive or Negative Line: A, B, C, or D? Scenario: As the number of hours spent watching TV rises, the average grade received falls. Relationship: Positive or Negative Line: A, B, C, or D? Scenario: As the…arrow_forwardThe following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. Y-axisX-axisBDCA For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ ice-cream" and Y-axis should be labeled "The temperature". Scenario Relationship Line As the temperature rises, the demand for ice-cream rises. Negative As the temperature rises, the demand for hot cocoa falls. Positive As the temperature falls, the demand for popsicles falls. Negative True or False: Line B has a slope of infinity.…arrow_forwardWhat is the difference between arithmetic and geometric gradient?arrow_forward
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