1. Use the demand curve graph found at the following link to answer the question

ID: 1176468 • Letter: 1

Question

1. Use the demand curve graph found at the following link to answer the questions that follow.

%u2022 How would point A be represented as an ordered (x,y) pair?

%u2022 What does this curve show?

%u2022 Does this curve show a positive or negative correlation between price and quantity?

%u2022 Compute the slope of D1 between points A and C.

%u2022 What is the slope of D1 between points C and E? Why would you not have to calculate this answer?

What is it cal

a. (20,24)

b. this curve shows the decrese in the value of the products(PRICE) as the quantity demanded increases

c. negative correlation

d. slope betnd A and C = (16-24)/(40-20)= -0.4

e. sloep btwn C and E is (8-16)/(60-40)= -0.4

this need not be calculated bcoz A,C,E are on a straight line and the slope of this line is constant be it btwn A and C ,be it btwn C and E

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