If Both the Supply and Demand Curves Shift Simultaneously,we Can

question 32

Multiple Choice

If both the supply and demand curves shift simultaneously,we can always predict what will happen to

• A) both the price and the quantity.
• B) either the price or the quantity, but not both.
• C) only the price.
• D) only the quantity.
• E) neither the price nor the quantity.

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Definitions:

Demand Schedule

a table that shows the quantity of a good or service that consumers are willing and able to purchase at various price points.

Quantities

The amounts or numbers of a material or item available or required.

Various Prices

Describes a market scenario where identical or similar goods or services are sold at different price points.

Demand Schedule

A table or graph showing the quantity of a good that consumers are willing to purchase at each possible price.