-Refer to the above graph to answer this question.If the demand and supply were both to increase by 200 units,what would be the resulting equilibrium price and quantity?

Question

Quizplus · Accepted Answer

When both demand and supply increase by the same amount, the equilibrium price remains unchanged, but the equilibrium quantity increases by that amount. Therefore, the equilibrium price stays at $60, and the equilibrium quantity increases by 200 units to 800.

-Refer to the Above Graph to Answer This Question