Economic Analysis of Social Issues 1st Edition by Alan Grant

تمرين 24

Use supply and demand graphs to determine which of the cases below will lead to the largest increase in price.
A) Demand is highly elastic; there is a large increase in supply.
B) Supply is highly inelastic; there is a large decrease in demand.
C) Supply is highly elastic; there is a small increase in demand.
D) Demand is highly inelastic; there is a large decrease in supply.