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in Market Equilibrium by (26.8k points)
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Suppose the demand and supply curve of good x shift simultaneously. The simultaneous shift can happen in four possible cases. The impact on equilibrium price and quantity in all four cases is different. On the basis of this, complete the following table :

Shift in demand Shift in Supply Equilibrium Quantity Equilibrium Price
Leftward  ...(a) ...  Decrease Remain Uncharged
 ...(b)... Rightward Increase Uncharged
Leftward Rightward Uncharged  ...(c) ..
Rightward Leftward Uncharged  .....(d) ....

1 Answer

+1 vote
by (26.2k points)
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Best answer

(a) Leftward 

(b) Rightward 

(c) Decrease 

(d) Increase

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