Refer to the accompanying figure. Assume demand remains unchanged at D1. If supply shifts from S1 to S2, then the equilibrium price will ________ and the equilibrium quantity will ________.

Name: Refer to the accompanying figure. Assume demand remains unchanged at D1. If supply shifts from S1 to S2, then the equilibrium price will ________ and the equilibrium quantity will ________.
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Question

Quizplus · Accepted Answer

When the supply curve shifts to the right, equilibrium price will fall, and equilibrium quantity will rise.

Refer to the Accompanying Figure