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Effect of change on equilibrium price-equilibrium quantity

How will each of the changes in demand and/or supply influence equilibrium price and equilibrium quantity in a competitive market; i.e. do price and quantity increase, fall, remain unchanged, or are the answers indeterminate since they depend on the magnitudes of the shifts? Employ supply & demand diagrams to confirm your answers.

a.            Supply fall & demand is constant.

b.            Demand reduces & supply is constant.

c.            Supply rise & demand is constant.

d.            Demand rise and supply rise.

e.            Demand rise and supply is constant.

f.            Supply rise and demand decreases.

g.            Demand increases and supply fall.

h.            Demand fall and supply rise.

E

Expert

Verified

a. Price increase; quantity decrease;
b. Price decrease; quantity decrease;
c. Price decrease; quantity increase;
d. Price indeterminate; quantity increase;
e. Price increase; quantity increase;
f. Price decrease; quantity indeterminate;
g. Price increase, quantity indeterminate;
h. Price indeterminate and quantity decrease.

 

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