After finding the slope of the tangent line to the graph, what does the slope represent? Can someone give me an example in terms of economics? Finding the slope of the tangent of a given point represents …? Thanks! I’m just confused on that part, not a homework question!
The slope(m) is the rate of change of the y variable in relation to the x variable ( in the equation y = mx+c) for instance if y is the price of some object (eg. coffee) and x is the time ( in years, months, days, ect.) . The slope would yield for example an increase of 2, this means an increase in y( the price of coffee) per x ( years) or 2$/year, c would be the initial price. The same applies for any other function or graph (eg. exponetial or parabolic) it would just represent change of y per x at a specific time