What is created by this situation?

neither a shortage nor a surplus

What do buyers/demanders & sellers/suppliers do in this type of situation?

competition b/w sellers decreases price/attracts quantity

What happens to price and quantity in this case?

price increases and quantity decreases

What do buyers/demanders & sellers/suppliers do in this type of situation?

competition between buyers increases price/lowers quantity

What happens to price and quantity in this situation?

Price decreases and quantity increases

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Duplicate of Effects of Shifts of Supply and Demand

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A #Economics quiz related to the effects of shifting supply and/or demand curves

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Questions 9

Answers

1
What will happen in this situation?
no change
a price floor
a shortage
a surplus
2
Why does price not change in this situation?
the shifts to both curves balance out the price
competition is not needed to reach equilibrium in this case
neither a shortage nor a surplus was created
All answers listed here
3
What is created by this situation?
a surplus
neither a shortage nor a surplus
a shortage
a price floor
4
What do buyers/demanders & sellers/suppliers do in this type of situation?
competition b/w sellers increases price/repels quantity
competition b/w buyers decreases price/repels quantity
competition b/w sellers decreases price/attracts quantity
competition between buyers increases price/attracts quantity
5
What happens to price and quantity in this case?
price increases and quantity decreases
price decreases and quantity increases
price and quantity decrease
price and quantity increase
6
What will happen in this market situation?
a surplus is created
a price ceiling
no change
a shortage is created
7
What will happen to price?
price will increase
price will stay the same
quantity will stay the same
price will decrease
8
What do buyers/demanders & sellers/suppliers do in this type of situation?
competition b/w sellers decreases price/attracts quantity
competition between buyers increases price/lowers quantity
competition b/w buyers decreases price/repels quantity
competition b/w sellers increases price/repels quantity
9
What happens to price and quantity in this situation?
Price decreases and quantity increases
Price AND Quantity Decrease
Price increases and quantity decreases
Price AND Quantity Increase

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