Question

if both the price and quantity of eggs rise, which is most likely to have happened?...

if both the price and quantity of eggs rise, which is most likely to have happened?

A) supply of eggs shifts left

B) supply of eggs shift right

C) demand for eggs shift right

D) demand for eggs shifts left

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Homework Answers

Answer #1

a) In the figure below, If supply shift to left from S to S' it cause price ro rise from P* to P** and Quantity to decrease from Q* to Q**.

b) In the figure below, If supply curve shifts to right from S to S',It cause price to fall from P* to P** and Quantity to rise from Q* to Q**.

c) In the figure below, if demand curve shifts to right from D' to D'' it cause price and quantity to increase from P* to P** and Q* to Q** respectively.

d) In the figure below, if demand curve shifts to left from D' to D'' it cause fall in both price and quantity from P* to P** and Q* to Q** respectively.

So the correct option is (C)

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