Market EquilibriumSuppose both the supply and demand curves shift to the right. What would be the ultimate impact on the price of the product?The price will increase.The price will decrease.The price will remain the same.The price will depend on the magnitude of change in the demand and supply.

What effect will a decrease in demand and an increase in supply have on equilibrium price ?Equilibrium price will fall Equilibrium price will rise Equilibrium price will be constant Sometimes price will rise and sometimes it will fall

How would a decrease in the price of a substitute good affect the market supply of a product? It would shift the supply curve to the right It would shift the supply curve to the left It would not affect the supply curve It would cause a movement along the supply curve

A leftward shift in the supply curve of product X will increase equilibrium price to a greater extent the:Multiple Choicemore elastic the supply curve.larger the elasticity of demand coefficient.more elastic the demand for the product.more inelastic the demand for the product.

What happens to the market equilibrium if supply decreases and demand increases? The equilibrium price will increase and the quantity will decrease The equilibrium price will decrease and the quantity will increase The equilibrium price and quantity will both increase The equilibrium price and quantity will both decrease

How is a market equilibrium affected by a simultaneous decrease in both supply and demand? The price may rise, fall, or remain unchanged The price will certainly rise The price will certainly fall There will be no effect on price