Consider the downward-sloping linear demand curve in the figure at the right. Use the line drawing tool to draw and label another straight-line downward-sloping demand curve, D₁, that intersects point A and is relatively more inelastic than the original demand curve. Be sure to draw your new demand curve intersecting point A, but do not draw a vertical or horizontal line. Carefully follow the instructions above, and only draw the required object. Price 50- 40- 30- 20- 10- (0,33.96) 10 A 30 20 Quantity Demand 40 50

Consider the downward-sloping linear demand curve in the figure at the right. Use the line drawing tool to draw and label another straight-line downward-sloping demand curve, D₁, that intersects point A and is relatively more inelastic than the original demand curve. Be sure to draw your new demand curve intersecting point A, but do not draw a vertical or horizontal line. Carefully follow the instructions above, and only draw the required object. Price 50- 40- 30- 20- 10- (0,33.96) 10 A 30 20 Quantity Demand 40 50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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