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What Is Economics?

Learn the relationship between advertising and sales in economics through graphical representations and slope calculations. Explore shifts in advertising strategies and their impact on sales outcomes.

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What Is Economics?

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  1. What Is Economics?

  2. Table A.1 Advertising and Sales at Len & Harry’s

  3. Figure A.1 A Graph of Advertising and Sales

  4. 1. The slope of this curve at point B . . . Sales ($1,000 per Month 54 2. is the slope of the straight line tangent to the curve at point B. D 53 C 49 B 46 A 43 3. Along the tangent line, when advertising increases from 0 to 3 units (ΔX= 3) H 40 4. sales increase from43 to 49 units (ΔY= 6). So the curve's slope at point B is = 6/3 = 2. Advertising ($1,000 per Month) 1 2 3 4 5 6 7 8 9 Figure A.2 Measuring the Slope of a Curve

  5. Figure A.3 Straight Lines with Different Slopes and Vertical Intercepts

  6. Figure A.4 Shifts in the Graph of Advertising and Sales

  7. (a) Y C' C X Figure A.5 Shifts of Curved Lines Straight Lines An increase in Z causes an increase in Y at any value of X

  8. Figure A.5 Shifts of Curved Lines Straight Lines

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