Table 4-4

-Refer to Table 4-4.Which space represents an increase in equilibrium quantity and an indeterminate change in equilibrium price?

Question

Table 4-4
 
-Refer to Table 4-4.Which space represents an increase in equilibrium quantity and an indeterminate change in equilibrium price?

Quizplus · Accepted Answer

An increase in equilibrium quantity is represented by a movement along the supply or demand curve to a higher quantity. An indeterminate change in equilibrium price is represented by a movement along the supply or demand curve that does not result in a change in equilibrium price. In this case, the movement from point a to point b represents an increase in equilibrium quantity and an indeterminate change in equilibrium price.

Table 4-4 -Refer to Table 4-4.Which Space Represents an Increase in Equilibrium