Suppose something causes a dramatic price Change as a result of a shift in either the supply curve or the demand curve. Use a real or imagined example. Briey describe how this price change works to inform and adjust the behavior of two groups: Buyers and Sellers. What would happen ifthe curve shifted but there was no price-change? Edit View Insert Format Tools Table 12ptv Paragraphv B I U Av 2v 72v (v \"div E},v .v 5 When a supply or demand curve shifts, prices and quantities adjust to compensate. Why is this? O It's part of the law of supply / law of demand. O Otherwise there would be surpluses or shortages. Otherwise there would be price ceilings / floors. O Quantity demand must always equal quantity supply.(You may want to sketch a supply/demand model for reference and to check your answer.) Chicago' along with most of Illinois, has a decreasing population. The number of buyers, and the number of producers, are determinants of demand and supply, respectively. If both of these are declining we can assume the following about prices and quantities for most goods and services. Prices are [Chum] V Quantities are [Choose] V [ Choose ] Unknown Change increasing Decreasing Unchangec