The following graph shows a market supply curve in orange and a market demand curve in blue. Suppose there is an increase in demand and an increase in supply. Adjust the following graph to reflect the new market conditions. Then, answer the questions that follow. PRICE 10 Supply Demand 8 7 5 4 3 2 Demand 0 1 2 3 4 5 B 7 8 9 10 QUANTITY Supply PRICE * 1 2 3 5 Demand 0 0 1 2 3 4 5 6 7 8 9 10 QUANTITY Supply As you can see by the changes on the graph in this case, the magnitude of the shift in the supply curve is in the demand curve. the magnitude of the shift Use the following table to indicate the changes in equilibrium price and quantity that result from the shifts in supply and demand on the previous graph. Equilibrium price Equilibrium quantity Increase Decrease No Change umbers and Graphs: Supply and Demand: Theory (Ch 03) 4. Working with Numbers and Graphs Q4 The following graph shows a market supply curve in orange and a market demand curve in blue. Suppose there is an increase in demand and an increase in supply. Adjust the following graph to reflect the new market conditions. Then, answer the questions that follow. PRICE 10 10 00 8 7 4 3 2 1 Supply Demand Demand 0 0 1 2 5 8 7 8 10 QUANTITY Supply ? Numbers and Graphs: Supply and Demand: Theory (Ch 03) Supply PRICE Demand 0 1 3 10 QUANTITY Demand Supply As you can see by the changes on the graph in this case, the magnitude of the shift in the supply curve is in the demand curve. the magnitude of the shift equal to Use the following table to indicate the changes in equilibrium price and quantity that result from the shifts graph. more than demand on the previous less than Increase Decrease No Change Equilibrium price Equilibrium quantity Numbers and Graphs: Supply and Demand: Theory (Ch 03) Supply PRICE Demand 10 QUANTITY Demand Supply As you can see by the changes on the graph in this case, the magnitude of the shift in the supply curve is in the demand curve. the magnitude of the shift Use the following table to indicate the changes in equilibrium price and quantity that result from the shifts in supply and demand on the previous graph. Increase Decrease No Change Equilibrium price Equilibrium quantity