The following graphs show the relationship between the price of peaches and the quantity of peaches supplied in two different regions, the North and the and South. Assume that the two lines are parallel. In the North, if the price goes down by $0.40 per pound, then the quantity supplied in the North goes down by 600 pounds per year. If the price of peaches goes down by $0.40 in the South, what will happen to the quantity supplied? A. There is not enough information given to determine the supply change in the South. B. The quantity will decrease by 600 pounds per year.
The following graphs show the relationship between the price of peaches and the quantity of peaches supplied in two different regions, the North and the and South. Assume that the two lines are parallel. In the North, if the price goes down by $0.40 per pound, then the quantity supplied in the North goes down by 600 pounds per year. If the price of peaches goes down by $0.40 in the South, what will happen to the quantity supplied? A. There is not enough information given to determine the supply change in the South. B. The quantity will decrease by 600 pounds per year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following graphs show the relationship between the
In the North, if the price goes down by $0.40 per pound, then the quantity supplied in the North goes down by 600 pounds per year. If the price of peaches goes down by $0.40 in the South, what will happen to the quantity supplied?
A. There is not enough information given to determine the supply change in the South.
B. The quantity will decrease by 600 pounds per year.
C. The quantity will increase by 600 pounds per year.
D. The quantity will increase by 300 pounds per year.
Transcribed Image Text:(?)
North
South
PEACHES (Thousands of pounds per year)
PRICE (Dollars per pound)
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The slope of a curve helps to understand the sensitivity or responsiveness of one variable to the other variable when analyzing their relationship.
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