ECN 104 Study Guide - Midterm Guide: Inq Mobile, Complementary Good, Independent Goods
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Page 1 of 7 increase: decrease, remain unchanged, although tire prices are likely to fall. remain unchanged, although tire prices are likely to rise. remain unchanged. income of apple eaters. Suppose that the quantity of a good demanded rises from 90 units to 110 units when the price falls from. Suppose that in 1997, 100,000 cell phones were sold at a price of each, and in 1998, 200,000 cell phones were sold at a price of each. One possible explanation for this is that from 1997 to 1998 the. _____________ curve shifted to the _____________: supply; left, supply; right, demand; left, demand; right. If the supply curve shifts left and demand remains constant, equilibrium quantity will rise. Given a standard supply and demand diagram, which of the following statements is correct: if the supply curve shifts right and the demand curve remains constant, equilibrium price will rise.
