Now that youve mastered interpreting shifts in demand and supply, its time to add another wrinkle: simultaneous

Question:

Now that you€™ve mastered interpreting shifts in demand and supply, it€™s time to add another wrinkle: simultaneous shifts in both demand and supply. Most of the time, when

we explore simultaneous shifts of demand and supply, we can determine the impact on either equilibrium price or equilibrium quantity, but not both. Fill in the missing cells in the following table to see why. Because two curves can shift in two directions, there are four cases to consider. The first column is done for you as an example.