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10 Question (1 point) See page 119 1st attempt See Hint The figures below depict four different demand curves, which range fr

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Answer #1

The first graph is for $5 bills because the price remains the same irrespective of the quantity demanded.

The first graph on the right is for carrots. Because carrot is a normal good, as price increases, people give up carrot consumption faster.

The left bottom graph is for gasoline. It is a necessity good. So the proportionate change in quantity is less than the proportionate change in price.

The fourth is the graph for insulin. No matter what the price is, the same amount has to be purchased.

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