Recently, you observed both an increase in the price and quantity of wheat. These two outcomes could be the result of wh...
Recently, you observed both an increase in the price and quantity of wheat. These two outcomes could be the result of which of the following?
a. Demand curve for wheat shifting rightward
b. Demand curve for wheat shifting leftward
c. Supply curve of wheat shifting rightward
d. Supply curve of wheat shifting leftward
Homework Answers
If the price and quantity both is increasing we can say this is because of Demand curve shifting rightward. i.e option a.
If Demand curve is shifting Leftward Price and quantity both will decrease
If Supply curve will shift rightward price decreases and quantity increases
If Supply curve shift leftwards price increases and quantity decreases
The effect are shown in graphs below
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Recently, you observed both an increase in the price and quantity of wheat. These two outcomes could be the result of wh...
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