4. Let us consider the following figure (Figure-1). a. Which of the following is

Question

4. Let us consider the following figure (Figure-1). a. Which of the following is displayed by Panel (a): i. an increase in demand and an increase in quantity supplied ii. an increase in demand and an increase in supply ili. an increase in quantity demanded and an increase in quantity supplied iv. an increase in quantity demanded and an increase in supply Which of the following is displayed by Panel (b): b. i. li. ili. iv. a decrease in demand and a decrease in quantity supplied a decrease in demand and a decrease in supply a decrease in quantity demanded and a decrease in quantity supplied a decrease in quantity demanded and a decrease in supply c. Which of the following is displayed by Panel (c): i. an increase in demand and an increase in quantity supplied i. an increase in demand and an increase in supply ii. an increase in quantity demanded and an increase in quantity supplied iv. an increase in quantity demanded and an increase in supply d. Which of the following is displayed by Panel (d): i. a decrease in demand and a decrease in quantity supplied ii. a decrease in demand and a decrease in supply ili. a decrease in quantity demanded and a decrease in quantity supplied iv. a decrease in quantity demanded and a decrease in supply

Explanation / Answer

a) panel A represents a shift in the demand curve to the right. The answer is "A", increase in demand and an increase in quantity supplied.

b) "A". panel b represents a decrease in the demand and decrease in the quantity supplied. The answer is "A".

c) "D", the panel represents an increase in supply and an increase in the quantity demand.

d) "D", the panel represents a decrease in the quantity demand and decrease in supply.

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