the graph shows the market for tvs. draw a point at the market equilibrium. label it 1. draw a demand curve…

the graph shows the market for tvs. draw a point at the market equilibrium. label it 1. draw a demand curve that shows what happens if the price of a movie streaming service falls. label the curve d1. draw a supply curve that shows the effect of a technological advance that cuts the cost of producing tvs. label it s1. draw a point at the new market equilibrium. label it 2. what outcome can we predict if demand and supply change in the same direction? if demand and supply change in the same direction, we ______ the direction of change of the equilibrium quantity and we ______ the direction of change of the equilibrium price. a. cannot predict; can predict b. can predict; cannot predict c. can predict; can predict d. cannot predict; cannot predict

the graph shows the market for tvs. draw a point at the market equilibrium. label it 1. draw a demand curve that shows what happens if the price of a movie streaming service falls. label the curve d1. draw a supply curve that shows the effect of a technological advance that cuts the cost of producing tvs. label it s1. draw a point at the new market equilibrium. label it 2. what outcome can we predict if demand and supply change in the same direction? if demand and supply change in the same direction, we ______ the direction of change of the equilibrium quantity and we ______ the direction of change of the equilibrium price. a. cannot predict; can predict b. can predict; cannot predict c. can predict; can predict d. cannot predict; cannot predict

Answer

Brief Explanations:

When demand and supply change in the same direction, the change in equilibrium quantity is predictable. If both increase, equilibrium quantity increases; if both decrease, equilibrium quantity decreases. However, the change in equilibrium price depends on the magnitude of the shifts of demand and supply curves. So, we cannot predict the direction of change of the equilibrium price.

Answer:

B. can predict; cannot predict