Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 4 - Part II - The Market Forces of Supply and Demand - Quick Check Multiple Choice - Page 86: 2

Answer

b. Supply, quantity demanded

Work Step by Step

Refer to the figure below. We know that an increase in supply make it shift rightward. From the figure, we can see that the supply has moved along the demand curve D1 and has shifted from S1 to S2. This has resulted in an increase in the quantity demanded from Q1 to Q2.
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