The figure shows the market for tires. A change in the price of tires from $60 to $120 OA. causes a shift from S, to S OB. could be caused by a decrease in the price of rubber. OC. is shown as a movement from point B to point A OD. causes a shift from Sto S, OE. is shown as a movement from point A to point C Price (dollars per tire) 150 120 90 60 30 0 10 20 30 40 50 60 70 80 Quantity (thousands of tires per day) O

The figure shows the market for tires. A change in the price of tires from $60 to $120 OA. causes a shift from S, to S OB. could be caused by a decrease in the price of rubber. OC. is shown as a movement from point B to point A OD. causes a shift from Sto S, OE. is shown as a movement from point A to point C Price (dollars per tire) 150 120 90 60 30 0 10 20 30 40 50 60 70 80 Quantity (thousands of tires per day) O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A2
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