Answer to Question #273707 in Microeconomics for Jas

Question

In early 2015 the price of condominium in Singapore rose. In a demand and supply model,

shifts in what curve or curves could have brought about the higher price?

Answer 1

It would be demand that would have shifted to the right, meaning that there's more quantity demanded for each price level, resulting in an increase in price. One of the possible reasons is an influx of expat professionals resulting in increase in demand.