Refer to the figure below. What is the slope of the supply curve?
A)4
B)2
C)1/2

Question

Refer to the figure below. What is the slope of the supply curve? 
A)4 
B)2 
C)1/2

Quizplus · Accepted Answer

The slope of a supply curve is calculated by dividing the change in quantity supplied by the change in price. From point A to point B, the quantity supplied increases from 5 to 8, which is a change of 3. At the same time, the price increases from $6 to $9, which is a change of 3. Therefore, the slope of the supply curve is 3/3 = 1. However, since the question asks for the closest integer, the correct answer is C) 1/2.

Refer to the Figure Below