Suppose the equilibrium price of bottled water has risen from $1.00 per bottle to $2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a ________ shift of the ________ curve for bottled water.

Question

Quizplus · Accepted Answer

A rightward shift of the demand curve for bottled water would lead to an increase in both the equilibrium price and quantity, which matches the scenario described.

Suppose the Equilibrium Price of Bottled Water Has Risen from $1.00