Business, 18.05.2021 19:20 crystalxolotp4q3la

Consider a simultaneous shift of both the demand curve and the supply curve. Before the shift, the market equilibrium is at a point where the price is 6 and the quantity is 25. Also, before the shift, with each additional unit increase in price, the quantity supplied increases by 5 and the quantity demanded decreases by 5. Now, due to a change in some government policy, the demand increases by 10 at all price levels. At the same time, the supply decreased in such a way that when the price level is 9, the quantity supplied is 30. What is the new market equilibrium price after this simultaneous shift

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Consider a simultaneous shift of both the demand curve and the supply curve. Before the shift, the m...

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