Question

which of the ofllowing cases will result in the largest decrease in equilibrium price the largest change in euqilibrium qwuantiity verify your answeres by derawing grapohs

Answer 1

Demand is highly inelastic; there is a relatively large increase in supply will result in the largest decrease in equilibrium price. Option A

This is further explained below.

Which of the following cases will result in the largest decrease in equilibrium price?

Generally, Highly inelastic indicates a rise in price lowers the amount requested by a reduced proportion. Raises in supply reduce quantity price and increase equilibrium quantity.

Highly elastic demand indicates a slight rise in price and lowers the quantity requested by a larger percentage.

In conclusion, Demand is quite inelastic, hence a relatively significant increase in supply will result in the greatest fall in equilibrium price. This is because there is a comparatively large rise in supply. Alternative A

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CQ

Which of the following cases will result in the largest decrease in equilibrium price? The largest change in equilib- rium quantity? Verify your answers by drawing graphs. a. Demand is highly inelastic; there is a relatively large increase in supply b. Demand is highly elastic; there is a relatively small increase in supply. c. Supply is highly inelastic: there is a relatively small decrease in demand. d. Supply is highly elastic and demand is very inelastic; there is a relatively large increase in supply