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