The slope of a curved line can be approximated by
A) the average of the variable measured along the y-axis divided by the average of the variable measured along the x-axis.
B) the inverse of the straight-line method.
C) the average of the variable measured along the x-axis divided by the average of the variable measured along the y-axis.
D) the slope across an arc from one point on the curve to another point on the curve.
D
You might also like to view...
In the circular flow diagram, aggregate expenditure includes
A) consumption expenditure, saving, investment and government expenditure. B) consumption expenditure, saving, investment and net exports. C) consumption expenditure, investment, government expenditure and net exports. D) consumption expenditure, saving, government expenditure and net exports.
Inventories include each of the following except
A) unsold finished goods. B) goods in process. C) raw materials held by firms. D) office equipment.
If a 30 percent change in price causes a 15 percent change in quantity supplied, then the price elasticity of supply is about
a. 0.5, and supply is elastic. b. 0.5, and supply is inelastic. c. 2, and supply is inelastic. d. 2, and supply is elastic.
A perfectly competitive firm's short-run supply curve is:
a. the segment of the marginal cost curve above average fixed cost. b. the upward-sloping segment of the marginal cost curve. c. both the segment of the marginal cost curve above average fixed cost and the segment of the marginal cost curve above the minimum level of average variable cost. d. the segment of the marginal cost curve above the minimum level of average variable cost.