14. A supply and demand puzzle The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price of cars remained constant, but the equilibrium quantity of cars increased. From this, you can condude that between 2007 and 2008, the supply of cars and the demand for cars decreased Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves i . increased Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, s was unchanged e a curve and it snaps back to its original position, just drag it a little farther. Supply Demand Supply Demand QUANTITY (Cars) PRICE (Doilars per car)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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14. A supply and demand puzzle
The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price of cars remained constant, but the equilibrium
quantity of cars increased. From this, you can condude that between 2007 and 2008, the supply of cars
and the demand for
cars
decreased
Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves i .
increased
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, s
was unchanged
e a curve and it snaps back
to its original position, just drag it a little farther.
Supply
Demand
Supply
Demand
QUANTITY (Cars)
PRICE (Doilars per car)
Transcribed Image Text:14. A supply and demand puzzle The following graph shows the market for cars in 2007. Between 2007 and 2008, the equilibrium price of cars remained constant, but the equilibrium quantity of cars increased. From this, you can condude that between 2007 and 2008, the supply of cars and the demand for cars decreased Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves i . increased Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, s was unchanged e a curve and it snaps back to its original position, just drag it a little farther. Supply Demand Supply Demand QUANTITY (Cars) PRICE (Doilars per car)
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