A supply and demand puzzle
The following graph shows the market for laptops in 2007 . Between 2007 and 2008, the equilibrium price of laptops remained constant, but the equilibrium quantity of laptops increased. From this, you can conclude that between 2007 and 2008, the supply of laptops _______ and the demand for laptops _______
Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2008 .
Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther.
The only way in which the demand and supply curves shift to result in a higher equilibrium quantity but the same equilibrium price is when both supply and demand increase i.e., shift towards right as shown in the above graph.
Ans: the supply of laptops increased, and the demand for laptops increased
ANSWER :
…….. supply of laptops increase and the demands of laptops increase.
When supply curve and demand curve both shift to the right ( to show the increase) by equal amount, equilibrium price will be same as earlier and equilibrium quantity demanded will increase.
The following graph shows the market for laptops in 2007 . Between 2007 and 2008, the equilibrium price of laptops remained constant, but the equilibrium quantity of laptops increased.
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