The correct answer is: price and quantity both change.

Here's why:

In economics, the equilibrium price and quantity in a market is determined by the intersection of the supply and demand curves.

1. A shift in the supply curve means that the quantity supplied changes at every given price. This could be due to a variety of factors such as changes in production costs, technological advancements, or changes in the number of sellers in the market.

2. When the supply curve shifts, it changes the equilibrium point - the point where the supply and demand curves intersect. This means that both the equilibrium price and quantity will change.

3. If the supply curve shifts to the right (an increase in supply), the equilibrium price will decrease and the equilibrium quantity will increase. Conversely, if the supply curve shifts to the left (a decrease in supply), the equilibrium price will increase and the equilibrium quantity will decrease.

So, when a market experiences a supply shift, both the equilibrium price and quantity will change.

Question

The correct answer is: price and quantity both change.

Here's why:

In economics, the equilibrium price and quantity in a market is determined by the intersection of the supply and demand curves.

1. A shift in the supply curve means that the quantity supplied changes at every given price. This could be due to a variety of factors such as changes in production costs, technological advancements, or changes in the number of sellers in the market.

2. When the supply curve shifts, it changes the equilibrium point - the point where the supply and demand curves intersect. This means that both the equilibrium price and quantity will change.

3. If the supply curve shifts to the right (an increase in supply), the equilibrium price will decrease and the equilibrium quantity will increase. Conversely, if the supply curve shifts to the left (a decrease in supply), the equilibrium price will increase and the equilibrium quantity will decrease.

So, when a market experiences a supply shift, both the equilibrium price and quantity will change.

Knowee AI · Accepted Answer

The correct answer is: price and quantity both change.

Here's why:

In economics, the equilibrium price and quantity in a market is determined by the intersection of the supply and demand curves.

1. A shift in the supply curve means that the quantity supplied changes at every given price. This could be due to a variety of factors such as changes in production costs, technological advancements, or changes in the number of sellers in the market.

2. When the supply curve shifts, it changes the equilibrium point - the point where the supply and demand curves intersect. This means that both the equilibrium price and quantity will change.

3. If the supply curve shifts to the right (an increase in supply), the equilibrium price will decrease and the equilibrium quantity will increase. Conversely, if the supply curve shifts to the left (a decrease in supply), the equilibrium price will increase and the equilibrium quantity will decrease.

So, when a market experiences a supply shift, both the equilibrium price and quantity will change.

A market experiencing a supply shift will see its equilibriumMultiple choice question.price change, but its quantity be unchanged.price and quantity both change.quantity change, but its price be unchanged.

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