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I have a question about the supply-demand model. For each of the following statements, evaluate whether the statement is true or false, and explain your
I have a question about the supply-demand model.
For each of the following statements, evaluate whether the statement is true or false, and explain your reasoning.
a.If the demand and supply curves both shift, and the equilibrium price decreases, this must mean that supply has increased and demand has decreased.
b.If the demand and supply curves both shift in the same direction, the equilibrium quantity will also move in the same direction.
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