Economics_Ch05

# C a tax is placed on the production of television

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Unformatted text preview: ancement occurs in the television industry. c. A tax is placed on the production of television sets. 10. Identify the factors that can change supply. Identify the factor that can change quantity supplied. 11. In each of the following cases, identify whether the supply of the good is elastic, inelastic, or unit-elastic. a. The price of books increases 10 percent, and the quantity supplied of books increases 14 percent. b. The price of bread increases 2 percent, and the quantity supplied of bread increases 2 percent. c. The price of telephones decreases 6 percent, and the quantity supplied of telephones decreases 8 percent. 12. What factor causes movement along a supply curve? Working with Graphs and Charts Doing the Math Use your thinking skills and the information you learned in this chapter to find solutions to the following problems. Do the calculations necessary to solve the following problems. 1. A house-building company spends \$40 million to produce 400 houses. What is the average...
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## This document was uploaded on 01/16/2014.

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