Question 10 (5 points) (01.06 HC
God
Demand
Supply
Supply 1
01 Quantity
2007 Nitfernandes
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Creative Commons Attribution-Share Alike 2.5 Generic license
The supply and demand curves reflect the availability and cost of a new gaming system. If the gaming system market is currently at Demand
and Supply 1, which change to the graph would have to occur to increase equilibrium price while lowering equilibrium quantity? (5 points)
Add Demand 1 to left of Demand.
Add Demand 1 to right of Demand,
Add Supply 2 to left of Supply 1.
Add Supply 2 to right of Supply 1.