Latest equilibrium price also quantity to result

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Q. When supply raised by 9 billion bushels per year also Demand was D2 the equilibrium quantity raised by less than 9 billion bushels per year. Demand wasn't elastic enough for the equilibrium quantity to rise by 9 billion bushels per year. Elucidate how elastic would it have to be for the equilibrium quantity to rise by 9 billion bushels per year?

Q. Converse the latest equilibrium price also quantity to result from these changes. Can you demonstrate some of these changes graphically?

Reference no: EM1319584

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