Register
If demand shifts right and supply left, then we know equilibrium quantity decreased but we do not know the change in equilibrium price.a. Trueb. False
211k views
1 vote
If demand shifts right and supply left, then we know equilibrium quantity decreased but we do not know the change in equilibrium price.a. Trueb. False

User Dave Sumter
by
5.0k points

1 Answer

3 votes

Answer:

False.

Step-by-step explanation:

When there is a rightward shift in the demand curve and leftward shift in the supply curve then as a result the equilibrium price of the good increases and the effect on equilibrium quantity is indeterminate because it depends upon the magnitude of the shifts of demand and supply curve.

Hence, the statement is not true.

User David MZ
by
5.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.2m questions

8.2m answers

Other Questions

Why do objects used as money need to be in limited supply
When a producer owns an intermediary at the next level down in the marketing channel, it is referred to as _________. a. forward integration b. backward integration c. vertical channel connection d. horizontal
Which of the following is not how a pro forma financial statement is used A. to analyze the effects of the firms forecasts on its financial performance B. to determine the amount of money needed for a
Describe a time when you or someone you know chose not to conform to the behavior of others. Why do you think this person chose not to conform
An owner decides to sell his property and discovers that there is a lien on his title for a swimming pool he paid off 10 years ago. the pool company is out of business. what is the owner to do?
Link Copied!