Question: Review Exercise Chapter 3 and 4 Use the gure below to answer the following questions. Price Figure 3.5.2 Original equilibrium at 1. 1. Refer to

Review Exercise Chapter 3 and 4 Use the gure below to answer the following questions. Price Figure 3.5.2 Original equilibrium at 1. 1. Refer to Figure 3.5.2, which represents the market for beans. If the price of peas, a substitute for beans rises, what is the new beans equilibrium, ceteris paribus? A] s B} 3 C} 9 D] 5 Fl F

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2. In this chapter, the reader should reflect on the following concepts: