Table 4-8

-Refer to Table 4-8.Which space represents an increase in equilibrium quantity and an indeterminate change in equilibrium price?

Question

Table 4-8
 
-Refer to Table 4-8.Which space represents an increase in equilibrium quantity and an indeterminate change in equilibrium price?

Quizplus · Accepted Answer

In space A, both the supply and demand curves have shifted to the right, indicating an increase in both equilibrium quantity and demand. However, the change in supply could either increase or decrease equilibrium price, making the change indeterminate.

Table 4-8 -Refer to Table 4-8.Which Space Represents an Increase in Equilibrium