10 Name: Pd Double Shifts Does one curve shift - or both? What happens to price and quantity? Answer the questions below by drawing out the graphs and explaining which curve moves, or If both move, and why. 1. What will happen to the equilibrium quantity and price of potatoes if population increases, and a new, higher yielding variety of potato plant is developed? Equilibrium Price: ? Equilibrium Quantity: ? 2. What will happen to the equilibrium quantity and price of oil if the government restricts licenses for oil production on federal land and technology improvement in electric cars has made them more economical and desirable? Equilibrium Price: ? Equilibrium Quantity: ? 3. What will happen to the equilibrium price and quantity of apples if apples are discovered to help prevent colds, and a fungus kills 10% of existing apple trees? Equilibrium Price: ? Equilibrium Quantity: Ty ? Scanned with CamScanner