equilibrium price, and then the demand curve for X shifts rightward. What is the likely outcome of the demand shift? A)The surplus increases. B)The surplus decreases. C)The shortage increases. D) The shortage decreases.
equilibrium price, and then the demand curve for X shifts rightward. What is the likely outcome of the demand shift? A)The surplus increases. B)The surplus decreases. C)The shortage increases. D) The shortage decreases.
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 7QP
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Transcribed Image Text:2) The current market price for good X is below the
equilibrium price, and then the demand curve for X
shifts rightward. What is the likely outcome of the
demand shift?
A)The surplus increases.
B)The surplus decreases.
C)The shortage increases.
D) The shortage decreases.
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