Practicing Success
Practicing Success
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| The direction of change in equilibrium price and quantity is ______ whenever there is a shift in demand curve and supply curve remaining the same. (in short run when number of firms is fixed) |
Same Different Sometimes same Sometimes different |
| Same |
| The direction of change in equilibrium price and quantity is same whenever there is a shift in demand curve. Say if the number of consumers increase in the market, the demand curve shifts to right with supply curve remaining same as before. This is a situation of excess demand which will lead to increase In price and quantity both. So direction of change in price and quantity is same. |
