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AP Macroeconomics Mkt 2 G Explain Using Graphs As Appropriate How Changes in Demand and Supply Affect Equilibrium Price and Equilibrium Quantity Questions

Trace how a demand or supply shift changes equilibrium price and quantity, then resolve simultaneous shifts by separating definite from indeterminate effects.

Syllabus
Effective Fall 2022
Course
AP Macroeconomics

Exam points

  • use a demand or supply shift to predict the new equilibrium price and quantity
  • analyse simultaneous demand and supply shifts to identify definite and indeterminate equilibrium effects

AP Macroeconomics Mkt 2 G Explain Using Graphs As Appropriate How Changes in Demand and Supply Affect Equilibrium Price and Equilibrium Quantity Questions question 1

[Maximum number: 1]

Assume that the market for bottled water is in equilibrium. If both the supply of and the demand for bottled water decrease, what will be the effect on equilibrium price and quantity?

Price

Quantity

Decrease

Decrease

Decrease

Increase

Increase

Decrease

Increase

Indeterminate

Indeterminate

Decrease

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