On a Graph, an Upward-Sloping Curve That Is Flatter as You

question 35

Multiple Choice

On a graph, an upward-sloping curve that is flatter as you move away from the origin indicates a

• A) negative relationship with an increasing slope.
• B) positive relationship with an increasing slope.
• C) negative relationship with a decreasing slope.
• D) positive relationship with a decreasing slope.

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Definitions:

Cross-Price Elasticity

A measure in economics that shows how the quantity demanded of one good responds to a change in the price of another good.

Cross-Price Elasticity of Demand

An indicator of how the demand for one product shifts following a change in the cost of a separate product.

Midpoint Method

A technique used in economics to calculate the elasticity of demand or supply between two points on a curve, which averages percentages of change in quantity and price.

Price Elasticity of Supply

The measure of how the supply quantity of a product is affected by changes in its price is known as the price elasticity of supply.