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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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Chapter
Section
BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Identify what happens to equilibrium price and quantity in each of the following cases:

  1. a. Demand rises and supply is constant.
  2. b. Demand falls and supply is constant.
  3. c. Supply rises and demand is constant.
  4. d. Supply falls and demand is constant.
  5. e. Demand rises by the same amount that supply falls.
  6. f. Demand falls by the same amount that supply rises.
  7. g. Demand falls less than supply rises.
  8. h. Demand rises more than supply rises.
  9. i. Demand rises less than supply rises.
  10. j. Demand falls more than supply falls.
  11. k. Demand falls less than supply falls.

(a)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

Explanation

If the demand rises and supply is constant, the equilibrium price and equilibrium quantity would increase. An increase in demand shifts the de...

(b)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(c)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(d)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(e)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(f)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(g)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(h)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(i)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(j)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

(k)

To determine

Identify the changes in equilibrium price and equilibrium quantity.

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