What is step one in the three-step program for analyzing changes in equilibrium?
A) Decide in which direction the curve shifts.
B) Decide whether the event shifts the supply or demand curve.
C) Use the supply-and-demand diagram to see how the shift changes the original equilibrium.
D) Analyze how equilibrium price and quantity have changed.
Correct Answer:
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Q169: Figure 4-5 Q170: What happens when there is a shortage Q171: Suppose you wish to analyze the change Q172: Figure 4-5 Q173: If a shortage exists in a market, Q175: What happens when there is a surplus Q176: Suppose cupcakes are currently selling for $12 Q177: Which of the following is NOT one Q178: Figure 4-5 Q179: If a surplus exists in a market, Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
