if-supply-shifts-to-the-left-and-demand-shifts-to-the-right-what-is-the-expected

Question

If supply shifts to the left and demand shifts to the right, what is the expected change in equilibrium price and quantity?

Accepted Answer

Equilibrium price increases, and equilibrium quantity is ambiguous.

Answer

Equilibrium price is ambiguous, and equilibrium quantity increases.

Answer

Equilibrium price decreases, and equilibrium quantity is ambiguous.

Answer

Both equilibrium price and quantity decrease.