Question: How do shortages or surpluses factor into your explanation? What will happen to equilibrium price and quantity as a result of the shift? Which curve

How do shortages or surpluses factor into your explanation?

What will happen to equilibrium price and quantity as a result of the shift?

Which curve has a movement along it (hint: the other one)?

Which curve is shifting and why (give a determinant example)?

Price p P2 P1 91 92 Quantity q D D2 S

Price p P2 P1 91 92 Quantity q D D2 S

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