Answer to Question #274557 in Microeconomics for Amrutha

Question

Draw Demand/Supply curves for the following shifts in demand and supply:

Demand shifts but supply does not shift

Supply shifts but demand does not shift

Supply decreases and demand increases

Supply increases and demand increases

Answer 1

Demand shifts from D1 to D2 but supply does not shift

Supply shifts from S1 to S2 but demand does not shift

Supply decreases from S1 to S2 and demand increases from D1 to D2

Supply increases from S to S1 and demand increases from D to D1