-Refer to the figure above. If the number of demanders for Good Z increases at the same time as the number of suppliers of Good Z decreases and the shift in demand is greater than the shift in supply, the equilibrium price will be ________than $100 and the equilibrium quantity will be________ than 100.

Question

Quizplus · Accepted Answer

When the demand for a good increases more than the supply decreases, the equilibrium price rises due to higher demand. The equilibrium quantity also increases because the increase in demand outweighs the decrease in supply.

-Refer to the Figure Above