How are the equilibrium price and quantity affected when (a) both demand and supply curves shift in the same direction? (b) demand and supply curves shift in opposite directions?
Answers
Answered by
9
Answer:
Answer (a) When both demand and supply curves shift In same direction (shift to left) the equilibrium quantity will fall but equilibrium price may or may not be affected There may be three situations (i) Equilibrium price will go up. when decrease In demand is less than decrease in supply.
Answered by
2
Answer:
(a) When both demand and supply curves shift In same direction (shift to left) the equilibrium quantity will fall but equilibrium price may or may not be affected There may be three situations (i) Equilibrium price will go up. when decrease In demand is less than decrease in supply.
Explanation:
hope it helps u
:)
Similar questions
English,
4 months ago
Computer Science,
4 months ago
Chemistry,
4 months ago
Economy,
9 months ago
Science,
1 year ago