The following graph presents the market for sweaters in 2017. Between 2017 and 2018, the equilibrium quantity of sweaters remained constant, but the equilibrium price of sweaters decreased. Given this information, you can conclude that between 2017 and 2018, the supply of sweatersdecreased and the demand for sweatersdecreased . Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.` Back to AssignmentAttempts 0.5 0.5Keep the Highest 0.5 / 214. A supply and demand puzzleThe following graph presents the market for sweaters in 2017. Between 2017 and 2018, the equilibrium quantity of sweaters remained constant, butthe equilibrium price of sweaters decreased. Given this information, you can conclude that between 2017 and 2018, the supply of sweatersdecreasedand the demand for sweatersdecreasedMake changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018.Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps backto its original position, just drag it a little farther.? PRICE (Dollars per sweater)QUANTITY (Sweaters)S2017S2018D2017D 2018DemandSupply

Equilibrium in the market occurs at the intersection of demand and supply curves, where quantity…

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Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 20AA

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The following graph presents the market for sweaters in 2017. Between 2017 and 2018, the equilibrium quantity of sweaters remained constant, but the equilibrium price of sweaters decreased. Given this information, you can conclude that between 2017 and 2018, the supply of sweatersdecreased and the demand for sweatersdecreased .

Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018.

Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.`

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14. A supply and demand puzzle
The following graph presents the market for sweaters in 2017. Between 2017 and 2018, the equilibrium quantity of sweaters remained constant, but
the equilibrium price of sweaters decreased. Given this information, you can conclude that between 2017 and 2018, the supply of sweaters
decreased
and the demand for sweaters
decreased
Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2018.
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back
to its original position, just drag it a little farther.
?

PRICE (Dollars per sweater)
QUANTITY (Sweaters)
S
2017
S2018
D2017
D 2018
Demand
Supply

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