Use the following to answer question(s): Simultaneous Shifts in Demand and Supply

-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves.In this market, the original equilibrium changed from point ________ to point ________ .

Question

Use the following to answer question(s): Simultaneous Shifts in Demand and Supply
 
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves.In this market, the original equilibrium changed from point ________ to point ________ .

Quizplus · Accepted Answer

The original equilibrium is at the intersection of D₁ and S₁, which is point J. The new equilibrium is at the intersection of D₂ and S₂, which is point L.

Use the Following to Answer Question(s): Simultaneous Shifts in Demand