Refer to the information provided in Figure 1.5 below to answer the questions that follow. Figure 1.5
-Refer to Figure 1.5. As income increases, consumption increases, but for each additional increase in income, consumption increases by a larger and larger amount. If consumption is graphed on the vertical axis and income is graphed on the horizontal axis, the relationship between consumption and income would look like which of the following panels?
A) A
B) B
C) C
D) D

Question

Refer to the information provided in Figure 1.5 below to answer the questions that follow.  Figure 1.5
-Refer to Figure 1.5. As income increases, consumption increases, but for each additional increase in income, consumption increases by a larger and larger amount. If consumption is graphed on the vertical axis and income is graphed on the horizontal axis, the relationship between consumption and income would look like which of the following panels?
A) A 
B) B 
C) C 
D) D

Quizplus · Accepted Answer

As income increases, consumption increases at an increasing rate, which is represented by a curve that is concave upward.

Refer to the Information Provided in Figure 1