When demand changes and the demand curve shifts, price an quantity change in the same direction.

Name: When demand changes and the demand curve shifts, price an quantity change in the same direction.
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Question

Quizplus · Accepted Answer

When the demand curve shifts, it indicates a change in demand at every price level. If demand increases, the curve shifts to the right, leading to higher equilibrium price and quantity. If demand decreases, the curve shifts to the left, resulting in lower equilibrium price and quantity.

When Demand Changes and the Demand Curve Shifts, Price an Quantity