Figure 10-1
-Refer to Figure 10-1. Following the increase in supply from S₁ to S₂, at a price of $850, what is the interest rate?

Name: Figure 10-1 -Refer to Figure 10-1. Following the increase in supply from S 1 to S 2 , at a price of $850, what is the interest rate?
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Question

Figure 10-1 -Refer to Figure 10-1. Following the increase in supply from S₁ to S₂, at a price of $850, what is the interest rate?

Quizplus · Accepted Answer

The interest rate can be found at the intersection of the new supply curve (S₂) and the demand curve (DD). At a price of $850, the intersection point gives an interest rate of approximately 17.6%.

Figure 10-1 -Refer to Figure 10-1. Following the Increase in Supply from in Supply