Answers to Chapter 4

Part 2

1.

a. $2

b. 2

c. 6

d. $6

e. $10

f. The supply price. The lowest price aceptable to suppliers. It is also called the "minimum asking price."

a. SEE FIGURE

b. 6

c. 3

d. 0

e. $4

f. $7

g. $10

h. $5

i. $7

j. $9