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2 pages/β‰ˆ550 words
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Business & Marketing
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English (U.S.)
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Homework Demand Supply Equilibrium: Business & Marketing Coursework

Coursework Instructions:

Homework Shift Demand, Shift Supply, Compare Old and New Equilibrium
On a graph draw supply and demand then show the equilibrium. Mark this P1 and Q1. Now shift both supply and demand. Briefly explain if P2 and Q2 will increase, decrease, remain unchanged, or will be ambiguous. You are welcome to upload pictures or any file type you like. All your answers should have supporting graphs.

These are your possible answers
price will increase
price will decrease
price will be unchanged
price will be ambiguous
quantity will increase
quantity will decrease
quantity will be unchanged
quantity will be ambiguous


1. Increase supply and increase demand.
Answer:
Price2 will ______________________
Quantity2 will ______________________

2. Decrease supply and decrease demand.
Answer:
Price2 will ______________________
Quantity2 will ______________________


3. Increase supply and decrease demand.
Answer:
Price2 will ______________________
Quantity2 will ______________________

4. Decrease supply and increase demand.
Answer:
Price2 will ______________________
Quantity2 will ______________________

Coursework Sample Content Preview:

Homework Demand and Supply Equilibrium
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Homework Demand and Supply Equilibrium
Demand refers to the quantity of services or goods a consumer is able and willing to purchase at a specific price. In contrast, supply is the quantity of services and goods that the producer can avail to the consumers. In economics, demand and supply are used in the price determination in a competitive market. Here, an assumption is made that all other factors remaining constant, the two market forces will vary and settle at a point where their quantities and prices equal (Rafieisakhaei et al., 2016). This point is referred to as equilibrium. When demand and supply are increased or decreased singl...
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