Explain how to calculate the slope of a non-linear function. What does the slope measure?
What will be an ideal response?
Since the slope of a non-linear function changes throughout the function one can only measure slope at a specific point along the function. Essentially you would take a line a make it tangent to the point that you want to measure and calculate the slope of that tangent line. The slope of that tangent line will be equivalent to the slope at that point on the function.
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If this pollution occurs, the marginal social cost equals the
A) marginal external cost. B) private marginal cost. C) sum of the private marginal cost and the marginal external cost. D) private marginal cost minus the marginal external cost.
For any given increase in spending that is not directly caused by an increase in income, the impact on equilibrium GDP is greater than the initial spending increase
Indicate whether the statement is true or false
Judging from this graph, which of the following happens if supply remains unchanged and demand increases?
a. Quantity becomes indeterminate.
b. Quantity falls.
c. Price falls.
d. Price rises.
If the marginal cost were $14, output would be
A. 1.
B. 2.
C. 3.
D. 5