Table 4-3. The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-3.Suppose x = 1.Then the slope of the market demand curve is

Question

Table 4-3. The demand schedule below pertains to sandwiches demanded per week.
 
-Refer to Table 4-3.Suppose x = 1.Then the slope of the market demand curve is

Quizplus · Accepted Answer

To find the slope of the market demand curve, we need to calculate the change in quantity demanded divided by the change in price. Since a specific price is not given, we can approximate the slope using two points from the demand schedule. If x = 1, then the corresponding quantity demanded is 10. If x = 2, then the corresponding quantity demanded is 9. Therefore, the change in quantity demanded is -1, and the change in price is 1. So, the slope of the market demand curve is -1/1 or -1. Since we are looking for the slope when x = 1, the answer is the coefficient of x in the equation we obtained: y = 13 - 1/3x - 1/2(10 - x) - 2(5 - x) - 3(4 - x). The coefficient of x is -1/3, so the answer is (A).

Table 4-3 the Demand Schedule Below Pertains to Sandwiches Demanded Per