Answer choices: 1. was unchanged, increased, decreased 2. was unchanged, increas

Question

Answer choices:

1. was unchanged, increased, decreased

2.  was unchanged, increased, decreased

18. Simultaneous shifts in supply and demand Aa Aa The following graph shows the market for laptop computers in 2010. Between 2010 and 2013, the equilibrium quantity of laptop computers remained constant, but the equilibrium price of laptop computers decreased. From this, you can conclude that between 2010 and 2013, the supply of laptop computers demand for laptop computers and the Adjust the graph to illustrate your answer by showing the positions of the supply and demand curves in 2013. Tool tip: Click and drag one or both of the curves. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just try again and drag it a little farther PRICE (Dollars per laptop Supply (2010) Demand (2010] QUANTITY (Laptop computers per day]

Explanation / Answer

1. decreased

2. decreased

Equilibrium quantity remains same but equilibrium price decreases. This means the demand and supply curve intersect at a point where (x,y) coordinates are such that y remains the same but the value of x changes. The two curves intersect at a point where the quantity remains the same but the price decreases. The supply and demand decrease.

For 2013, for both the supply and demand curves; the supply increases for a lower price; equilibrium price is lower.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.