14. A supply and demand puzzle The following graph presents the market for sweaters in 2016. Between 2016 and 2017, the equilibrium price of sweaters remained constant, but the equilibrium quantity of sweaters decreased. Given this information, you can conclude that between 2016 and 2017, the supply of sweaters and the demand for sweaters Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2017. 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.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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14. A supply and demand puzzle
The following graph presents the market for sweaters in 2016. Between 2016 and 2017, the equilibrium price of sweaters remained constant, but the
equilibrium quantity of sweaters decreased. Given this information, you can conclude that between 2016 and 2017, the supply of sweaters
and the demand for sweaters
Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2017.
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."
Transcribed Image Text:14. A supply and demand puzzle The following graph presents the market for sweaters in 2016. Between 2016 and 2017, the equilibrium price of sweaters remained constant, but the equilibrium quantity of sweaters decreased. Given this information, you can conclude that between 2016 and 2017, the supply of sweaters and the demand for sweaters Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2017. 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 (Dollers per sweater):
(CH 04)
QUANTITY (Sweaters)
Supply
Demand
Demand
-O-
Supply
?
searth this cours
Transcribed Image Text:PRICE (Dollers per sweater): (CH 04) QUANTITY (Sweaters) Supply Demand Demand -O- Supply ? searth this cours
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