Microeconomics
Microeconomics
Plot the following data, and specify the type of relationship between the two variables. (Place “Price” on the vertical axis and “Quantity Supplied” on the horizontal axis.)
Plot the given data.
Table 1 shows the quantity of apple demanded at different price levels below:
Table 1
| Price | Quantity demanded of apple |
| 0.25 | 350 |
| 0.50 | 400 |
| 0.70 | 500 |
| 0.95 | 700 |
| 1.00 | 800 |
| 1.10 | 1,000 |
Figure 1 shows the quantity of apple demanded at different price levels below:
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