Question

If the equilibrium point moves down and to the right side of the graph what happened to the supply?

Answer 1

A change in supply that is to the right or downward will cause the equilibrium quantity to increase and the equilibrium price to decrease.

Given that the supply curve is often upward sloping in the case of a shifting demand curve, an upward or rightward change in the demand curve will result in a higher equilibrium price and equilibrium quantity.

Similarly, a shift in the demand curve to the left or downward will typically provide a lower equilibrium price and a smaller equilibrium quantity.

Depending on how the supply curve is shaped, a movement in the demand curve may cause a higher absolute change in the equilibrium price or quantity. The equilibrium quantity will fluctuate primarily if the supply curve is relatively flat or elastic.

To learn more about the Demand curve refer to:

brainly.com/question/13828738

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