Consider a competitive market in which the equilibrium determined by the intersection of Supply and Demand. If the market price has decreased and the market quantity has increased, then we can infer that Group of answer choices a) the demand curve has shifted to the right. b) the demand curve has shifted to the left. c) no shifts have occurred. d) the supply curve has shifted to the left. e) the supply curve has shifted to the right.
Consider a competitive market in which the equilibrium determined by the intersection of Supply and Demand. If the market price has decreased and the market quantity has increased, then we can infer that Group of answer choices a) the demand curve has shifted to the right. b) the demand curve has shifted to the left. c) no shifts have occurred. d) the supply curve has shifted to the left. e) the supply curve has shifted to the right.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Consider a competitive market in which the equilibrium determined by the intersection of
Group of answer choices
a) the demand curve has shifted to the right.
b) the demand curve has shifted to the left.
c) no shifts have occurred.
d) the supply curve has shifted to the left.
e) the supply curve has shifted to the right.
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