Question: Question #11: Show an increase in demand and a decrease in supply. (a) Label each of the curves (S1, S2, D1 and D2). (b). State

Question #11: Show an increase in demand and a decrease in

Question #11: Show an increase in demand and a decrease in supply. (a) Label each of the curves (S1, S2, D1 and D2). (b). State the original equilibrium price and 1 quantity.(c State the new equilibrium price and quantity 2 3 Answers: 4 5 a. 7 C. 10 12 13 14 15 16 17 1% 19 21

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