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The graph shows the price of a good compared to the quantity supplied.
A graph titled Supply of Cars has Quantity Supplied on the x-axis, from 0 to 10, and Price in thousands of dollars on the y-axis, from 0 to 30. Point (S 1, P 1) is at (3, 20) and points (S 2, P 2) is at (8, 25).
This graph demonstrates how
the amount produced slightly changes with the price.
the amount produced greatly changes with the price.
the amount consumed slightly changes with the price.
the amount consumed greatly changes with the price.
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the amount produced greatly changes with the price.
Reason: when price rises from 20 to 25 (thousand $) quantity supplied rises from 3 to 8 — a large change in quantity supplied for a relatively small price change.
Reason: when price rises from 20 to 25 (thousand $) quantity supplied rises from 3 to 8 — a large change in quantity supplied for a relatively small price change.
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