Consider the market for laptops in 2015. Between 2015 and 2016, the equilibrium price of laptops remained constant , but the equilibrium quantity of laptops increased. From this, you can conclude that between 2015 and 2016, the supply of laptops ________________ and the demand for laptops _______________.

Consider the market for laptops in 2015. Between 2015 and 2016, the equilibrium price of laptops remained constant , but the equilibrium quantity of laptops increased. From this, you can conclude that between 2015 and 2016, the supply of laptops __ and the demand for laptops _.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 4SQP

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With reference to the Supply and Demand curves, what might happen to the equilibrium price and quantity of MacBooks if the price of silicon (which goes into the production of microchips) were to increase; while, at the same time, the price of PC laptops (a substitute for MacBooks) also increased?
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