In the following graph, Q_S1 and Q_S2 represent the supply curves and Q_D1 and Q_D2 represent the demand curves. Refer to the graph to answer the question: Which of the following statements is true? A) The demand curve Q_D1 is more elastic than the demand curve Q_D2. B) The supply curve Q_S1 is less elastic than the supply curve Q_S2. C) An increase in supply will lead to a relatively smaller change in output along Q_D1. D) A decrease in supply from Q_S2 to Q_S1 will lead to a fall in the market price.

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The Answer of In the following graph, Q_S1 and Q_S2 represent the supply curves and Q_D1 and Q_D2 represent the demand curves. Refer to the graph to answer the question: Which of the following statements is true? A) The demand curve Q_D1 is more elastic than the demand curve Q_D2. B) The supply curve Q_S1 is less elastic than the supply curve Q_S2. C) An increase in supply will lead to a relatively smaller change in output along Q_D1. D) A decrease in supply from Q_S2 to Q_S1 will lead to a fall in the market price.

In the Following Graph, QS1 and QS2 Represent the Supply

In the Following Graph, Q_S1 and Q_S2 Represent the Supply