FIGURE #1: Price (dollars per ton of plywood) Price (dollars per ton of plywood) D2 D DI D2 Quantity (tons of plywood per month) Figure A Quantity (tons of plywood per month) Figure B Price (dollars per ton of plywood) Price (dollars per ton of plywood) S2 D Quantity (tons of plywood per month) Quantity (tons of plywood per month) Figure C Figure D
FIGURE #1: Price (dollars per ton of plywood) Price (dollars per ton of plywood) D2 D DI D2 Quantity (tons of plywood per month) Figure A Quantity (tons of plywood per month) Figure B Price (dollars per ton of plywood) Price (dollars per ton of plywood) S2 D Quantity (tons of plywood per month) Quantity (tons of plywood per month) Figure C Figure D
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
USE FIGURE #1:
In an effort to protect endangered species from the effects of logging in America's national forests, the federal government passes a law prohibiting logging in most of the state of Washington. Which of the figures above best illustrates the effect of this new law?
Group of answer choices
- Figure C
- Figure B
- None of these because a prohibition cannot be illustrated using demand and supply figures
- Figure A
- Figure D
Transcribed Image Text:FIGURE #1:
Price (dollars per
ton of plywood)
Price (dollars per
ton of plywood)
D2
D
DI
D2
Quantity (tons of
plywood per month)
Figure A
Quantity (tons of
plywood per month)
Figure B
Price (dollars per
ton of plywood)
Price (dollars per
ton of plywood)
S2
D
Quantity (tons of
plywood per month)
Quantity (tons of
plywood per month)
Figure C
Figure D
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