-In Exhibit C-9, the original market equilibrium is determined by D₁ and S₁. Suppose demand shifts to D₂. The new equilibrium price is _________ than the originaland ______________.

Question

Quizplus · Accepted Answer

When demand increases (shifts to the right), it typically results in a higher equilibrium price and a greater quantity sold, as the increased demand drives up the price consumers are willing to pay, and suppliers are willing to supply more at the higher price.

-In Exhibit C-9, the Original Market Equilibrium Is Determined by D1

-In Exhibit C-9, the Original Market Equilibrium Is Determined by D₁