Due to advanced technology, substitute goods for higher education have seen an increase in demand Please illustrate this circumstance by constructing a supply and demand graph, showing the direction in which the curves will shift, and state the new equilibrium price and quantity for example, state whether price and quantity increased, decreased, or are indeterminate Please explain your rationale based on the determinants of demand and supply

Question: Due to advanced technology, substitute goods for higher education have seen an increase in demand. Please illustrate this circumstance by constructing a supply and demand

Due to advanced technology, substitute goods for higher education have seen an increase in demand. Please illustrate this circumstance by constructing a supply and demand graph, showing the direction in which the curves will shift, and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.

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