Changes in equilibrium price and quantity due to changes

Reference no: EM1311299

Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.

	No change in Supply	Increase in Supply	Decrease in Supply
No change in Demand	P* same, Q* same
Increase in Demand
Decrease in Demand

Reference no: EM1311299

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