Model la: Consumer A Consumer A Demand Quantity Consumer A 2. Calculate the slop

Question

Model la: Consumer A Consumer A Demand Quantity Consumer A 2. Calculate the slope of the demand curve for Consumer A. Do not write out an equation, just write the value as a whole number (no decimals). Calculate the reciprocal of the slope of the demand curve for Consumer A. Do not write out an equation, just write the value up to the first decimal. 3. 4. Interpret the value of the reciprocal you calculated in the previous question for Consumer A. Keep in mind that the value reflects changes in the vertical axis (using the appropriate units) and changes in the horizontal axis (using the appropriate units). L curve for Consumer B. Do not write out an equation, just

Explanation / Answer

Since slope is defined as the change in the variable on the y-axis divided by the change in the variable on the x-axis

2) Slope of demand curve = ( 10 - 20) / ( 10-5)

slope of demand curve = -10 / 5 = -2

3) reciprocal of slole = -1/2

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