Price (Dollars per unit) Quantity Supplied (Units) 9 160 17 Q1 . Refer to Table 4-3. If the law of supply applies to this good, then Q1 could be   a.  110.   b.  140.   c.  160.   d.  170.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Price

(Dollars per unit)

Quantity Supplied

(Units)

9

160

17

Q1

Refer to Table 4-3. If the law of supply applies to this good, then Q1 could be

 

a. 

110.

 

b. 

140.

 

c. 

160.

 

d. 

170.

Expert Solution
Step 1

Law of supply states that keeping all the factors fixed, as price increases quantity supplied increases.

Here from the options, 170 is greater than 160. So as price increases from 9 to 17, quantity supplied is increased to 170.

 

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