Use the graph below to answer questions 9 and 10 Price ($) 8 Supply 6 4 2 Demand Quantity 300 100 200 0 If price is $4, the area between the demand curve and price is equal to: 400 9. d. 800 600 b. 200 C. га. If price is $4, the area between the supply b. curve and price is equal to: 600 10. 400 d. 800 200 с. а. 22 Chapter 1 Appendix Assignments

Use the graph below to answer questions 9 and 10 Price ($) 8 Supply 6 4 2 Demand Quantity 300 100 200 0 If price is $4, the area between the demand curve and price is equal to: 400 9. d. 800 600 b. 200 C. га. If price is $4, the area between the supply b. curve and price is equal to: 600 10. 400 d. 800 200 с. а. 22 Chapter 1 Appendix Assignments

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 18RQ: If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on...

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