Will price and quantity rise-fall or be unchanged

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Evaluate each of the supply and demand scenarios below by answering the following questions: •How will each affect equilibrium price and equilibrium quantity in a competitive market? •Will price and quantity rise, fall, or be unchanged? •Based on the magnitudes of the shifts, will the answers be indeterminate? Provide appropriate graphs to illustrate your answers and use supply and demand to verify your answers. a. Demand decreases and supply is constant. b. Demand increases and supply increases. c. Supply decreases and demand is constant. d. Supply increases and demand decreases. e. Demand increases and supply decreases. f. Demand decreases and supply decreases. g. Demand increases and supply is constant.

Reference no: EM13995239

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