Consider a competitive market in which the equilibrium determined by the intersection of Supply and Demand. If the market price has decreased and the market quantity has increased, then we can infer that Group of answer choices a) the demand curve has shifted to the right. b) the demand curve has shifted to the left. c) no shifts have occurred. d) the supply curve has shifted to the left. e) the supply curve has shifted to the right.

Consider a competitive market in which the equilibrium determined by the intersection of Supply and Demand. If the market price has decreased and the market quantity has increased, then we can infer that Group of answer choices a) the demand curve has shifted to the right. b) the demand curve has shifted to the left. c) no shifts have occurred. d) the supply curve has shifted to the left. e) the supply curve has shifted to the right.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.12P

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