(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 for a normal good: Select one: a. supply has increased and price has increased. b. demand has increased and price has increased. c. demand has decreased and price has fallen. d. demand has increased and price has fallen. Feedback The correct answer is: demand has increased and price has fallen.
(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, the original equilibrium changed from point ________ to point ________ . Select one:
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(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 for a normal good, the shift in the demand curve may have been a result of: Select one:
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