What kind of information is conveyed in a time-series graph?
What will be an ideal response?
A time series graph reveals four types of information. First, it shows the actual value of the variable(s) at each point in time. Second, it shows whether the variable(s) is rising or falling as time passes. Third, it shows the speed with which the variable(s) is changing. Finally, it shows the presence—or absence—of a trend.
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Refer to the graph below for a profit-maximizing monopolist. The firm will produce the quantity:
A. 0V
B. 0Y
C. 0T
D. 0X
Refer to the table below. Suppose the columns in this table reflect demand and supply. At a price of $30:Price PerUnitColumn A UnitsPer YearColumn B UnitsPer Year$2010040$309550$408060$506570$605080
A. there will be an excess supply of 45 units. B. there will be an excess demand of 45 units. C. the market will be in equilibrium. D. there will be an excess demand of 95 units.