In the table below, fill in the missing blanks to complete the summary of the effects of changes in demand and supply on equilibrium price and quantity. Supply Curve Unchanged Supply Curve Shifts to the Supply Curve Shifts to the Right Left Q unchanged Punchanged Demand Curve Q decreases Unchanged P decreases Pincreases Demand Curve Shifts to increases Q increases Q indeterminant the Right Pindeterminant Pincreases decreases P decreases Demand Curve Shifts to Q the Left P decreases P indeterminant

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 24P
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In the table below, fill in the missing blanks to complete the summary of the effects of changes in demand and supply on equilibrium price and quantity.
Supply Curve
Unchanged
Supply Curve Shifts to the Supply Curve Shifts to the
Right
Left
Q unchanged
Punchanged
Demand Curve
Q
Q decreases
Unchanged
P decreases
P increases
Q increases
Q increases
Pindeterminant
Demand Curve Shifts to
Q indeterminant
the Right
P increases
Q decreases
P decreases
Demand Curve Shifts to
the Left
P decreases
P indeterminant
Transcribed Image Text:In the table below, fill in the missing blanks to complete the summary of the effects of changes in demand and supply on equilibrium price and quantity. Supply Curve Unchanged Supply Curve Shifts to the Supply Curve Shifts to the Right Left Q unchanged Punchanged Demand Curve Q Q decreases Unchanged P decreases P increases Q increases Q increases Pindeterminant Demand Curve Shifts to Q indeterminant the Right P increases Q decreases P decreases Demand Curve Shifts to the Left P decreases P indeterminant
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