Question

what is the slope of the given supply curve? the chart shows a supply curve with points (9, $9) and (12, $15) on it, and the axes are price ($) and quantity.

Explanation:

Step1: Recall the slope formula

The slope \( m \) between two points \((x_1, y_1)\) and \((x_2, y_2)\) is given by \( m=\frac{y_2 - y_1}{x_2 - x_1} \).

Step2: Identify two points on the supply curve

We have two points: \((9, 9)\) and \((12, 15)\) (where the \( y \)-values are prices in dollars and \( x \)-values are quantities). Let \((x_1, y_1)=(9, 9)\) and \((x_2, y_2)=(12, 15)\).

Step3: Calculate the slope

Substitute the values into the slope formula:
\( m=\frac{15 - 9}{12 - 9}=\frac{6}{3} = 2 \)

Answer:

2