文档介绍：Chapter 4 Applications of Supply and Demand T-25 Figure 4-1 Elastic Demand Shows Large-Quantity Response to Price Change Price Elasticity of Demand Falls into Three Categories T-26 Figure 4-2 Perfectly Elastic and Inelastic Demands T-27 Figure 4-3 Slope and Elasticity Are Not the Same Thing T-28 Figure 4-4 A Simple Rule for Calculating the Demand Elasticity T-29 Figure 4-5 Supply Elasticity Depends upon Producer Response to Price T-30 Figure 4-6 Prices of Basic Farm Products Have Declined Sharply T-31 Figure 4-7 Source: Bureau of Labor Statistics Agricultural Distress Results from Expanding Supply and Price-Inelastic Demand T-32 Figure 4-8 Crop-Restriction Programs Raise Both Price and Farm e T-33 Figure 4-9