Exhibit 4-14
-Refer to exhibit 4-14. The market demand curve is given by D₁ and the supply by S₁. Equilibrium price is P₂ and equilibrium quantity is Q₁. What will the new equilibrium price and quantity be if there is an increase in the birth rate?

Question

Exhibit 4-14

-Refer to exhibit 4-14. The market demand curve is given by D₁ and the supply by S₁. Equilibrium price is P₂ and equilibrium quantity is Q₁. What will the new equilibrium price and quantity be if there is an increase in the birth rate?

Quizplus · Accepted Answer

The Answer of Exhibit 4-14 -Refer to exhibit 4-14. The market demand curve is given by D₁ and the supply by S₁. Equilibrium price is P₂ and equilibrium quantity is Q₁. What will the new equilibrium price and quantity be if there is an increase in the birth rate?