work incentive assignment before question part 1 of 2 completed: 84 of 116 my score: 80.67/116 pts (69.54%)…
work incentive assignment before question part 1 of 2 completed: 84 of 116 my score: 80.67/116 pts (69.54%) when both supply and demand curves change, the outcome is definite for both equilibrium price and equilibrium quantity. a. true b. false
Answer
Brief Explanations:
When both supply and demand curves shift, the direction of change in either equilibrium price or quantity can be ambiguous depending on the magnitude and direction of the shifts. For example, if demand increases and supply decreases, the price will rise but the change in quantity is uncertain.
Answer:
B. False