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Unformatted text preview: Number of suppliers ( ) ( ) Dynamics of Demand and Supply Supply (S shifts left) Supply unchanged Supply (S shifts right) Effect on P* and Q* Demand (D shifts left) p* or q* p* q* p* q* or Demand unchanged p* q* P* unchanged q* unchanged p* q* Demand (D shifts right) p* q* or p* q* p* or q* Prep101 Note: When changes occur in both supply and demand, the effects are sometimes known and sometimes depend on the exact shape of the supply and demand curves and the amount they shift. Prep101...
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- Spring '08