Use the supply and demand graph below to answer the next two questions (1 pt. each – for both…

Question:

Don't use plagiarized sources. Get Your Custom Assignment on

Use the supply and demand graph below to answer the next two questions (1 pt. each – for both…

From as Little as $13/Page

Transcribed Image Text:

Use the supply and demand graph

below to answer the next two

questions (1 pt. each – for both questions, assume A is the starting equilibrium point):

P

H

1

G

B

A

F

с

E

S₂

D₂

S₁

D₁

1

S3

4. If the price of paper (an input) increases and the number of college students

increases 10%, then a possible new equilibrium is…

5. The price of ebooks (a substitute) increases resulting in a possible new

equilibrium at…

D₂

3

Q

Expert Answer: