Suppose the expenditure figures in Problem 1 were modified as follows (figures are in thousands). Draw this S-curve. What does the new S-curve diagram represent? How would you explain the...

Suppose the expenditure figures in Problem 1 were modified as follows (figures are in thousands).

Draw this S-curve. What does the new S-curve diagram represent? How would you explain the reason for the different, non-S-shape of the curve?

May 19, 2022