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True or False: When both the demand and supply curves shift, you can always determine the effect on price and quantity without knowing the magnitude of the shifts.

Respuesta :

Answer:

False

Explanation:

A shift in the demand curve is caused by :

  • A change in consumers income, taste
  • changes in season

A shift can either be outward or inward. It is inward when demand decreases and outward when demand increases.

The magnitude of change needs to be determined to determine the effect on price and quantity . An outward shift would have a different effect from an inward shift

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