Question 23 In the graph above, if D2 is the original demand curve and the price of a substitute in consumption rises, which price and quantity may result? Question 23 options: a) Point c, with price P3 and quantity Q3 b) Point d, with price P1 and quantity Q3 c) Point a, with price P2 and quantity Q2 d) Point b, with price P1 and quantity Q1 Question 25 In the graph above, if D2 is the original demand curve and the population falls, which price and quantity may result? Question 25 options: a) Point d, with price P1 and quantity Q3 b) Point c, with price P3 and quantity Q3 c) Point b, with price P1 and quantity Q1 d) Point a, with price P2 and quantity Q2
Question 23 In the graph above, if D2 is the original demand curve and the price of a substitute in consumption rises, which price and quantity may result? Question 23 options: a) Point c, with price P3 and quantity Q3 b) Point d, with price P1 and quantity Q3 c) Point a, with price P2 and quantity Q2 d) Point b, with price P1 and quantity Q1 Question 25 In the graph above, if D2 is the original demand curve and the population falls, which price and quantity may result? Question 25 options: a) Point d, with price P1 and quantity Q3 b) Point c, with price P3 and quantity Q3 c) Point b, with price P1 and quantity Q1 d) Point a, with price P2 and quantity Q2
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 23
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Question 25
In the graph above, if D2 is the original demand curve and the population falls, which price and quantity may result?
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![P3
P2
P1
D3
D2
D1
Quantity
Qo Q1 Q2 Q3 Q4
Price](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc5dcd9e-50ff-464c-a3c3-f5c1906858d4%2F922b12fd-6617-4dd8-b526-84e72ea824a9%2Funuxx4r_processed.png&w=3840&q=75)
Transcribed Image Text:P3
P2
P1
D3
D2
D1
Quantity
Qo Q1 Q2 Q3 Q4
Price
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