how will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market? that is, do price and quantity rise, fall, or remain unchanged, or are the answers indeterminate because they depend on the magnitudes of the shifts?

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21-10-2022
Business

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how will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market? that is, do price and quantity rise, fall, or remain unchanged, or are the answers indeterminate because they depend on the magnitudes of the shifts?

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Qwline Qwline · Answer 1 · 2022-10-31T11:46:06+01:00

Part a: The equilibrium price will rise and the equilibrium quantity will fall

Part b: The equilibrium price and the equilibrium quantity will fall

Part c: The equilibrium price will fall and the equilibrium quantity will rise

Part d: The equilibrium quantity will rise, but the change in equilibrium price is indeterminate because of the magnitude of the shift

Part e: The equilibrium price and the equilibrium quantity will rise

Part f: The equilibrium price will fall, but the change in equilibrium quantity is indeterminate because of the magnitude of the shift

Part g: The equilibrium price will increase, and the change in equilibrium quantity will be slight

Part h: The equilibrium quantity will fall and the change in equilibrium price will be only moderate

The intersection of the demand and supply curves determines the equilibrium price and the equilibrium quantity. If the demand and supply curves vary in any way, the equilibrium quantity and price will also change.

Part a: The supply curve will shift leftward which leads to a rise in equilibrium price and a fall in equilibrium quantity

Part b: The demand will shift leftward, and supply remains constant. The equilibrium price and quantity decrease as a result.

Part c: The supply curve will shift rightward, which leads to a fall in equilibrium price and a rise in equilibrium quantity.

Part d: Demand and supply both curve shift rightward, which leads to an increase in quantity. However, because it is dependent on the magnitudes of the shifts, the change in equilibrium price is intermediate.

Part e: The demand curve will shift rightward, which lead to an increase in both the equilibrium price and quantity.

Part f: The supply curve will shift rightward, and the demand curve will shift leftward, which leads to a fall in equilibrium price. However, because it is dependent on the magnitudes of the shifts, the change in equilibrium quantity is intermediate.

Part g: The demand curve will shift rightward, and the supply curve will shift leftward. The equilibrium price will increase as a result. However, the quantity change is only slight because it is dependent on the size of the shifts.

Part h: When there is a decrease in supply and demand, both curves will shift leftward. As a result, the equilibrium quantity declines. However, because it depends on the size of the shifts, the price change is only moderate.

Although a part of your question is missing, you might refer to this full question: How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market; that is, do price and quantity rise, fall, or remain unchanged, or are the answers indeterminate because they depend on the magnitudes of the shifts?

a. Supply decreases and demand is constant.

b. Demand decreases and supply is constant.

c. Supply increases and demand is constant.

d. Demand increases and supply increases.

e. Demand increases and supply is constant.

f. Supply increases and demand decreases.

g. Demand increases and supply decreases.

h. Demand decreases and supply decreases

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