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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Plot the following data, and specify the type of relationship between the two variables. (Place “Price” on the vertical axis and “Quantity Demanded” on the horizontal axis.)

images

To determine

Plot the given data.

Explanation

Table 1 shows the quantity of apple demanded at different price level below:

Table 1

PriceQuantity demanded of apple
0.251,000
0.50800
0.70700
0.95500
1.00400
1.10350

Figure 1 shows the quantity of apple demanded at different price level below:

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