下

： a then I 25 then demand curve 0 T 217 1⽐ ⼆ 400_zp

supply curve Q 3P 50
1⽐ G Qs 4orzP 3P50
P 90
Qm Qs 220
the market_clearing price B 90
quantity for chocolate B 220
Pa

Z D
ai
To ⻜
b when Ii fo On 5⽐ 2P 0s 3P 50
QD Qs 500 20 3p 50
P 110
217
G 0s 280

P s
noˊ______
D
I
280 ⻜

Trail percentage mange in a 哥 出 29

 percentage change in p 12 占 18
price elasticity ⼆
藏 出 1.6
ii change in Q 13

go change in P
器 40

出国
price elasticity
器 2.2
50
b.ci change in 0
晉 公 吖
g change in I 12000
器 出8

管
income elasticity 1.22
们 change in 2
0
营 2290

change in 让 18
income
elasticity ⼆⼈ 22
所 when drought around the world the price
elasticity of giai 1 the demand is inelastic
so when price increase total revenue increases
when drought only in Kansas i.in price elasticity
a grain 219 the demand is elastic
s uh.in mice increase total revenue decreases

To Price elasticity of walt's demand is 0

because as the price changes his quang
d
 demanded unchanged

price elasticity of Jessie's demand is 1

suppose the price of one gallon of gas is X
quantity Jessie gained is
then the
笑
the two are inversely proportional
SO 唾 is the unit elastic demand.the elasticity B1

ㄒ5 a
price of bottle Quantity of
of water cone demanded

8 up 0

6 7 1

4 5 z

23 3
0 1 4
water cone
priceof bottleof
consumer surplus
Is iter

snrmnsz si i it 5 6 i Quantity of
demanded
b 2 bottles
Csi 5 7 214 128 4
Bert's consumer surplus is 4
is consumer surplus 1 in the graph

C the quantity demanded will change to 3

But's consumer surplus is 9
is consumer surplus 2 in the graph