PRICE (Dollars per bike) Homework (Ch 04) The following graph presents the market for bikes in 2014. Between 2014 and 2015, the equilibrium price of bikes remained constant, but the equilibrium quantity of bikes increased. Given this information, you can conclude that between 2014 and 2015, the supply of bikes) and the demand for bikes Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2015. 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. QUANTITY (Bikes) Supply Demand -- Supply Demand
PRICE (Dollars per bike) Homework (Ch 04) The following graph presents the market for bikes in 2014. Between 2014 and 2015, the equilibrium price of bikes remained constant, but the equilibrium quantity of bikes increased. Given this information, you can conclude that between 2014 and 2015, the supply of bikes) and the demand for bikes Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2015. 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. QUANTITY (Bikes) Supply Demand -- Supply Demand
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
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Transcribed Image Text:PRICE (Dollars per bike)
Homework (Ch 04)
The following graph presents the market for bikes in 2014. Between 2014 and 2015, the equilibrium price of bikes remained constant, but the
equilibrium quantity of bikes increased. Given this information, you can conclude that between 2014 and 2015, the supply of bikes)
and the demand for bikes
Make changes to the graph to illustrate your answer by showing the positions of the supply and demand curves in 2015.
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.
QUANTITY (Bikes)
Supply
Demand
--
Supply
Demand
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