Microeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280618
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
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Question
Chapter 1A, Problem 1TY
To determine
To draw:
A 2-variable diagram and measure the slope of line along with the meaning of the numbers.
Expert Solution & Answer
Explanation of Solution
Slope:
The slope represents the steepness of line or it is the ratio of the change in values on the Y-axis with respect to the X-axis.
The following graph plots the given data:
The slope of the line is the same as the horizontal change divided by vertical change.
The slope 4 shows that every 100 enrollment has 25 students of economics each year.
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Chapter 1A Solutions
Microeconomics: Principles and Policy (MindTap Course List)
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