Question

Plot prices 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

slope at an point of the line

slope=$\frac{change in Y}{change in X}$

=$\frac{52-28}{4-2}$

=$\frac{24}{2}$

=12

the slope is positive indicating its a supply curve for normal good