Wednesday

October 1, 2014

October 1, 2014

Posted by **Cristina** on Thursday, September 21, 2006 at 7:50pm.

Draw an initial supply curve in both Upper and Lower Slobbovania. Now raise the supply curve in both graphs upward (vertical at all points) by exactly 50 cents. In the first graph, draw a demand curve that shows a 35 cents rise, in the second a demand curve that gives you a 15 cents rise. What must the slopes of the demand curve be in order to achieve this result? What happens to quantity in each market?

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