Answer to Question #49653 in Macroeconomics for Stephanie

Question

On monday last week, XYZ corporation stock traded for $55 per share with 21,300 shares exchanged. Two days later, XYZ corporation stock traded at a price of $70 per share with 24,000 shares exchanged. If only one curve shifted, demand or supply, which curve must have shifted and in which direction? How do you know? draw a demand and supply graph to illustrate this. Identify any abbreviations used, e.g. P=price, Q=quantity, D=demand, S=supply