When the demand curve shifts to the left and the supply curve shifts to the right and the shift of the demand curve is dominant -- we can say that: (Note: In the answer options, "ambiguous" is another word for undefined/unknown.) O the change in quantity is ambiguous but price definitely will fall equilibrium price will fall while equilibrium quantity will rise O the change in price is ambiguous but quantity definitely will fall O both equilibrium price and quantity will fall

When the demand curve shifts to the left and the supply curve shifts to the right and the shift of the demand curve is dominant -- we can say that: (Note: In the answer options, "ambiguous" is another word for undefined/unknown.) O the change in quantity is ambiguous but price definitely will fall equilibrium price will fall while equilibrium quantity will rise O the change in price is ambiguous but quantity definitely will fall O both equilibrium price and quantity will fall

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 25P

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Similar questions

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