If supply changes from S1 to S2 and demand changes from D1 to D2 a) equilibrium price decreases to $14. b) equilibrium quantity increases to 16. c) equilibrium price increases. d) supply has increased.

If supply changes from S1 to S2 and demand changes from D1 to D2 a) equilibrium price decreases to $14. b) equilibrium quantity increases to 16. c) equilibrium price increases. d) supply has increased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

08. If supply changes from S1 to S2 and demand changes from D1 to D2 a) equilibrium price decreases to $14. b) equilibrium quantity increases to 16. c) equilibrium price increases. d) supply has increased.

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