The citizens of a fictional city called Kamar-Taj enjoy exceptionally good weather compared to other similar cities in the country. Let us analyze the real estate market in Kamar-Taj. The following graph shows the supply and demand for housing in Kamar-Taj. The curve labeled Supply represents the supply of housing in the city, and the curve labeled D1 represents the demand for housing if the weather were not so good. Adjust the following graph to show the position of the demand curve given that the weather is good. PRICE (Local Curency) 130 117 104 91 78 65 52 39 26 13 0 0 Supply 11 22 33 44 55 66 QUANTITY (Housing in Kamar-Taj) 77 88 99 110 Based on the graph, the price of housing 4 D 1 Supply to $
The citizens of a fictional city called Kamar-Taj enjoy exceptionally good weather compared to other similar cities in the country. Let us analyze the real estate market in Kamar-Taj. The following graph shows the supply and demand for housing in Kamar-Taj. The curve labeled Supply represents the supply of housing in the city, and the curve labeled D1 represents the demand for housing if the weather were not so good. Adjust the following graph to show the position of the demand curve given that the weather is good. PRICE (Local Curency) 130 117 104 91 78 65 52 39 26 13 0 0 Supply 11 22 33 44 55 66 QUANTITY (Housing in Kamar-Taj) 77 88 99 110 Based on the graph, the price of housing 4 D 1 Supply to $
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The citizens of a fictional city called Kamar-Taj enjoy exceptionally good weather compared to
other similar cities in the country. Let us analyze the real estate market in Kamar-Taj.
The following graph shows the supply and demand for housing in Kamar-Taj. The curve labeled
Supply represents the supply of housing in the city, and the curve labeled D1 represents the demand
for housing if the weather were not so good.
Adjust the following graph to show the position of the demand curve given that the weather is
good.
PRICE (Local Curency)
130
117
104
91
78
65
39
26
13
0
0
1927 192
N
PER
11.4
Supply
15
NOVEM
66
11 22 33 44 55
QUANTITY (Housing in Kamar-Taj)
77
D
1
88
99 110
Based on the graph, the price of housing
D,
Supply
?
to $
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