Unformatted text preview: ancement occurs in the
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
11. In each of the following cases, identify whether
the supply of the good is elastic, inelastic, or
a. The price of books increases 10 percent, and
the quantity supplied of books increases 14
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
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.
- Winter '14