Multiple Choice
Use the following to answer question(s) : Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves.In this market, following the adjustment shown:
A) both demand and supply increased.
B) price fell and quantity increased.
C) quantity had to increase, given the changes in supply and demand.
D) all of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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