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3. Is price of a pound of apple correlated to dozens of pounds of apples demanded? Explain your answer. 4. If your answer for question
3. Is price of a pound of apple correlated to dozens of pounds of apples demanded? Explain your answer. 4. If your answer for question 3 is yes, then explain if price of apple and quantity demanded of price are positively correlated or negatively? Explain your answers. 5. According to your graph, is price of a pound of apple linearly correlated to dozens of pounds of apples demanded or nonlinearly correlated? Explain your answers. 6. Calculate the slope of the line/curve between points A and D. 7. Calculate the slope of a line that passes through the points (18,5) and (22,12). 8. Interpret/explain the slope you found in question7, in 12 sentences. 9. Use the following keywords and write an example to explain the principles of economics that people face tradeoffs to your friend : Stephanie, \$1000, laptop, Nikon 230 camera. 10. Suppose that you have received $325 as a birthday gift. You can spend it today or you can put the money in a bank account for a year and earn 4 percent interest. What is the opportunity cost of spending the money today, in terms of what you could have after one year? Referring to Table1 answer questions 2-6. 2. Show any points in Table 1 on the following two-dimensional graph. Draw a line and connect all the points together
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