8. Suppose a market is in equilibrium, and then the demand increases. Which of the following would be shown on a graph that illustrated the effects? A. An excess demand at the initial equilibrium price. B. An excess demand at the new equilibrium price. C. An excess supply at the initial equilibrium price. D. An excess supply at the new equilibrium price.

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
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8. Suppose a market is in equilibrium, and then the demand increases. Which of the
following would be shown on a graph that illustrated the effects?
A. An excess demand at the initial equilibrium price.
B. An excess demand at the new equilibrium price.
C. An excess supply at the initial equilibrium price.
D. An excess supply at the new equilibrium price.
Transcribed Image Text:8. Suppose a market is in equilibrium, and then the demand increases. Which of the following would be shown on a graph that illustrated the effects? A. An excess demand at the initial equilibrium price. B. An excess demand at the new equilibrium price. C. An excess supply at the initial equilibrium price. D. An excess supply at the new equilibrium price.
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