A. Let us suppose we have table showing three individual demand for TWO different incomes. 1. Illustrate the demanded curve for the consumer using weekly gasoline. Use just one graph. Price per liter Weekly Income  US$ 400 Weekly Income  US$200 2.50 OMR 9 7 3.00 OMR 7 6 4.50 OMR 5 4 5.00 OMR 3 2 7.50 OMR 1 1 B. Illustrate the law of supply by showing the differences between the changes of quantity supplied and the changes of supply by giving example.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section4.3: Supply
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Question 3.
A. Let us suppose we have table showing three individual demand for TWO different incomes.

1. Illustrate the demanded curve for the consumer using weekly gasoline. Use just one graph.

Price per liter

Weekly Income 

US$ 400

Weekly Income 

US$200

2.50 OMR 9 7
3.00 OMR 7 6
4.50 OMR 5 4
5.00 OMR 3 2
7.50 OMR 1 1


B. Illustrate the law of supply by showing the differences between the changes of quantity supplied and the changes of supply by giving example. 

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