question archive For each of the following assume that the supply curve shifts while the demand curve remains constant
For each of the following assume that the supply curve shifts while the demand curve remains constant
Subject:EconomicsPrice: Bought3
For each of the following assume that the supply curve shifts while the demand curve remains constant. What is the direction of supply shift and relative elasticity of demand?
a. Price remains nearly constant. Quantity increases enormously.
b. Price falls enormously. Quantity does not change.
c. Price rises slightly. Quantity remains nearly constant.
