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Answer each of the following questions by drawing a schematic diagram.

a. Taking measurements of the slope of a curve at three points farther and farther to the right along the horizontal axis, the slope of the curve changes from -0.3, to -0.8, to -2.5, measured by the point method. Draw a schematic diagram of this curve. How would you describe the relationship illustrated in your diagram?

b. Taking measurements of the slope of a curve at five points farther and farther to the right along the horizontal axis, the slope of the curve changes from 1.5, to 0.5, to 0, to -0.5, to -1.5, measured by the point method. Draw a schematic diagram of this curve. Does it have a maximum or a minimum?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91574546

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