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22 April, 06:43

If demand shifts right and supply left, then we know equilibrium quantity decreased but we do not know the change in equilibrium price. a. Trueb. False

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  1. 22 April, 07:12
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    False.

    Explanation:

    When there is a rightward shift in the demand curve and leftward shift in the supply curve then as a result the equilibrium price of the good increases and the effect on equilibrium quantity is indeterminate because it depends upon the magnitude of the shifts of demand and supply curve.

    Hence, the statement is not true.
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