Data Interpretation 2 — Graphs and Scenarios

A graph shows demand shifting right along an upward-sloping supply curve. The new equilibrium has:

Between two points on a supply curve, price rises 20% and quantity rises 10%. Supply is:

A market has Qd = 80 - 2P and Qs = 20 + P. A $6 price ceiling is imposed. The resulting shortage is:

In a competitive market, total surplus is maximized at the quantity where:

A table shows a firm's output and total cost: (0,$100), (1,$130), (2,$150), (3,$180). The marginal cost of the 2nd unit is:

From the same table, average total cost at Q=3 is:

A demand curve passes through (P=10, Q=100) and (P=12, Q=90). Total revenue at P=10 vs P=12 shows demand is:

Two goods: when the price of A rises 10%, quantity of B demanded rises 15%. They are:

A subsidy of $2 per unit shifts supply down by$2. If demand is Qd = 50 - P and supply was Qs = 10 + P, the new equilibrium quantity is:

A Lorenz-curve style table shows the bottom 20% earning 5% of income and the top 20% earning 50%. This economy has: