Answer to Question #274765 in Microeconomics for ezza arif

Question

Plot price on y axis and Quantity on x axis an determine what is the slope (positive or negative)

Price 1 2 3 4 5

Quantity 12 28 42 52 60

Answer 1

The plotting of the chart was done using Microsoft Excel software. The results are shown below.

The slope is positive. The above curve slopes upwards to the right. This indicates that as the price goes up the quantity will also go up.