In the spaces below each of the following indicate the incre

In the spaces below each of the following, indicate the [increase (+), decrease (-) ,or intermediate (ind)] on equilibrium price (P) and equilibrium quantity (Q) of each of these changes in demand and for supply.

Solution

                                                                                         P                         Q

a)increase in demand, increase in supply                   indeterminate           (+)

b)increase in demand, decrease in supply                   (+)                           indeterminate

c)decrease in demand , decrease in supply              indeterminate             (-)

d)decrease in demand, increase in supply                     (-)                          indeterminate