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Arthur believes that the number of job offers he will get depends on the number of courses in which his grade is B+ or better. He concludes from observation that the following figures are typical: Number of grades of B+ or better 0 1 2 3 4 Number of job offers 1 3 4 5 6 Put these numbers into a graph like Figure 1(a). Measure and interpret the slopes between adjacent dots.

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Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992

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Chapter
Section
BuyFindarrow_forward

Microeconomics: Principles & Policy

14th Edition
William J. Baumol + 2 others
Publisher: Cengage Learning
ISBN: 9781337794992
Chapter 1.A, Problem 3TY
Textbook Problem
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Arthur believes that the number of job offers he will get depends on the number of courses in which his grade is B+ or better. He concludes from observation that the following figures are typical:

Number of grades of B+ or better 0 1 2 3 4
Number of job offers 1 3 4 5 6

Put these numbers into a graph like Figure 1(a). Measure and interpret the slopes between adjacent dots.

To determine

Plotting of graph and calculation and interpretation of slope.

Explanation of Solution

The graph is drawn based on the information given in the table. Here, number of courses in which grade is B+ or better is shown on the x-axis. Number of jobs is shown on y-axis.

Calculation of slopes:

The formula to calculate the slope of a graph is:

   ΔNo. of job offersΔgrades

At point 'a', the slope is:

   m=y2y1x2x1=3110=2

But the graph is not a straight line

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