If the soccer ball market is in equilibrium at a price of $22 per ball, an increase in the demand for soccer balls will cause a shortage at that price.

Question

Quizplus · Accepted Answer

An increase in demand will shift the demand curve to the right, causing a new equilibrium point at a higher price. At the original price of $22 per ball, there will now be excess demand, resulting in a shortage.

If the Soccer Ball Market Is in Equilibrium at a Price