both price and quantity. You can take the whole day to submit the output. D Question 1 50 pts Complete the table of the effects of simultaneous shifts in demand and supply by creating a graph for each scenario. Make sure to show the hypothetical graph for each number. Increase in Demand Decrease in Demand No change in Demand (rightward shift) (leftward shift) 1. P 4. P Q. 6. P Q Increase in Supply (movement to the right) No change in P or Q No change in Supply 2. P Q 7. P Q- Decrease in Supply 3. P Q 5. P Q 8. P Q (movement to the left)
both price and quantity. You can take the whole day to submit the output. D Question 1 50 pts Complete the table of the effects of simultaneous shifts in demand and supply by creating a graph for each scenario. Make sure to show the hypothetical graph for each number. Increase in Demand Decrease in Demand No change in Demand (rightward shift) (leftward shift) 1. P 4. P Q. 6. P Q Increase in Supply (movement to the right) No change in P or Q No change in Supply 2. P Q 7. P Q- Decrease in Supply 3. P Q 5. P Q 8. P Q (movement to the left)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Complete the table by graphing the indicated hypothetical movements of demand and supply and state what then happens to
both price and quantity. You can take the whole day to submit the output.
D
Question 1
50 pts
Complete the table of the effects of simultaneous shifts in demand and supply by creating a graph for each
scenario. Make sure to show the hypothetical graph for each number.
Increase in Demand
Decrease in Demand
No change in Demand
(rightward shift)
(leftward shift)
1. P_
4. P
6. P Q.
Increase in Supply
(movement to the right)
No change in P or Q
No change in Supply
2. P Q
7. P Q-
Decrease in Supply
3. P Q
5. P Q
8. P.
(movement to the left)
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