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Figure 7: Panels A, B, and C.
Referring to Figure 4. Panel (A), Panel (B) and Panel (C) - all together – show
A.The case of an "increase in demand" and a simultaneous "decrease in supply" where, with no additional information information, the direction of change in the equilibrium quantity is ambiguous.
B. The case of an "increase in demand" and a simultaneous "decrease in supply" where, with no additional information, the direction of change in the equilibrium quantity is unambiguous.
C. The case of an "decrease in demand" and a simultaneous "increase in supply" where, with no additional information information, the direction of change in the equilibrium quantity is ambiguous.
D. The case of an "decrease in demand" and a simultaneous "increase in supply" where, with no additional information information, the direction of change in the equilibrium quantity is unambiguous.
