EBK ESSENTIALS OF ECONOMICS
4th Edition
ISBN: 8220103647380
Author: KRUGMAN
Publisher: MAC HIGHER
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Question
Chapter 2A, Problem 4P
To determine
(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.
(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.
Concept Introduction
Slope of Line:
The slope of a line represents the change in the value on y-axis per unit value on x-axis. The slope of a line is a measure of steepness of the line.
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3
Producer Surplus, PS
$12
$11
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Print
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Legend
●Demand
● Supply
Price
$10
$9
$8
$7
$6
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$5
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1
2 3
4 5 6 7 8
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Tons of Wheat (in thousands)
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a. Indicate the consumer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Consumer Surplus, CS" to shade in the consumer surplus area on the graph.
b. Indicate the producer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Producer Surplus, PS" to shade in the producer surplus area on the graph.
Figure 4-4
PRICE
a
P
B
Q
a
QUANTITY
Supply
Refer to Figure 4-4. The movement from point A to point B on the graph is called
a decrease in supply.
an increase in supply.
an increase in the quantity supplied.
a decrease in the quantity supplied.
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Chapter 2A Solutions
EBK ESSENTIALS OF ECONOMICS
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