Asked by Shannen Relova on May 06, 2024

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If supply is upward sloping,a shift of a demand curve to the right,all other things unchanged,will:

A) increase equilibrium price and quantity.
B) decrease equilibrium price and quantity.
C) decrease equilibrium quantity and increase equilibrium price.
D) increase equilibrium quantity and decrease equilibrium price.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Equilibrium Quantity

Equilibrium Quantity is the quantity of goods or services that is supplied and demanded at the equilibrium price, where market supply and demand balance.

Demand Curve

A chart that demonstrates how the demand for a product changes in response to its price during a particular period.

  • Understand the relationship between shifts in supply and demand curves and their impact on equilibrium price and quantity.
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ES
Elba Solangel GomezMay 10, 2024
Final Answer :
A
Explanation :
When the demand curve shifts to the right, it indicates an increase in demand. With an upward sloping supply curve, this increase in demand leads to a higher equilibrium price and quantity, as suppliers are willing to produce and sell more at higher prices.