Set 2 When supply and demand changes in an opposite direction. a.) Qd ↑ ; Qs b.) Qd ; as ↑ The Graph: The Graph:, Answers Questions 1. What happen to the Price Equilibrium? 2. What happen to Quantity Equilibrium? Questions 1. What happen to the Price Equilibrium? 2. What happen to Quantity Equilibrium? Answers

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Set 2
When supply and demand changes in an opposite direction.
a.) Qd ↑ ; Qs
b.) Qd ; as ↑
The Graph:
The Graph:,
Answers
Questions
1. What happen to the
Price Equilibrium?
2. What happen to
Quantity Equilibrium?
Questions
1. What happen to the
Price Equilibrium?
2. What happen to
Quantity Equilibrium?
Answers
Transcribed Image Text:Set 2 When supply and demand changes in an opposite direction. a.) Qd ↑ ; Qs b.) Qd ; as ↑ The Graph: The Graph:, Answers Questions 1. What happen to the Price Equilibrium? 2. What happen to Quantity Equilibrium? Questions 1. What happen to the Price Equilibrium? 2. What happen to Quantity Equilibrium? Answers
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Step 1

The demand curve shows the association between the amounts of commodity demanded by the consumer at a given price. Whereas, the supply curve shows the association between the price of commodity and quantity of the commodity that a seller is able and willing to sell.

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