The Graph of the Profit Function Is Given as Follows

question 1

Multiple Choice

The graph of the profit function is given as follows. Consider the average rate of change of the profit from a to 350 where a lies to the left of 350. Does the average rate of change of the profit get closer to 0 or farther from 0 as a gets closer to 350? ​ ​

• A)closer to 0
• B)farther from 0

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Definitions:

Production Possibilities Curve

A graphical representation showing the maximum combination of goods or services that can be produced with given resources and technology.

Negative Slope

A feature of a line on a graph that indicates a decrease in the dependent variable as the independent variable increases.

Production Possibilities

The different quantities of goods and services that an economy can produce given its available resources and technology, as represented by a production possibility curve.

Better Technology

Improvements or advancements in technology that increase efficiency or productivity.