-In Figure 3-8,using the supply and demand curves denoted S₁ and D₁,respectively,if demand were to increase to D₂ and the equilibrium price stayed the same there would be a A) surplus B) new equilibrium at 50,000 C) shortage D) new equilibrium at 100,000 E) new equilibrium at 75,000

Question

Quizplus · Accepted Answer

When demand increases but the equilibrium price remains unchanged, it typically results in a shortage because the quantity demanded exceeds the quantity supplied at the original equilibrium price.

-In Figure 3-8,using the Supply and Demand Curves Denoted S1

-In Figure 3-8,using the Supply and Demand Curves Denoted S₁