Figure 3.5
-Figure 3.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from

Question

Quizplus · Accepted Answer

An increase in supply shifts the supply curve to the right, and an increase in demand shifts the demand curve to the right. The intersection of the new supply and demand curves will be at a higher price and quantity, which is represented by the movement from point d to point a.

Figure 3.5 -Figure 3.5 Illustrates a Set of Supply and Demand Curves