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Assume that both the supply and demand of bottled water rise in the summer but that supply increases more rapidly than demand. What can you conclude about the directions of the impacts on the equilibrium price and quantity

Respuesta :

Answer:

there would be a rightward shift of the demand and supply curve.

there would be a rise in equilibrium quantity and an indeterminate effect on equilibrium price.

Explanation:

if the supply and demand of bottled water rises, there would be a rightward shift of the demand and supply curve.

a rise in the demand leads to a rise in price and quantity.

a rise in supply leads to a rise in quantity and a fall in price

the combined effect would lead to a rise in quantity and an indeterminate effect on price.

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