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Question
It was found that the equilibrium price and quantity have changed in opposite directions. This is likely to happen due to a shift in the
It was found that the equilibrium price and quantity have changed in opposite directions. This is likely to happen due to a shift in the
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Solution
The correct option is A demand
When the supply shifts, the buyers would move along the demand curve to reach equilibrium. Since the demand curve is downward sloping, price and quantity would move in opposite directions.
When the supply shifts, the buyers would move along the demand curve to reach equilibrium. Since the demand curve is downward sloping, price and quantity would move in opposite directions.
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