HOW PRICE AND QUANTITY CHANGE WHEN SUPPLY OR DEMAND SHIFTS | |||||||
No Change in Demand | Demand Increases | Demand Decreases | |||||
(No shift) | (Shifts to the right) | (Shifts to the left) | |||||
No Change in Supply | P unchanged | P higher | P lower | ||||
(No shift) | Q unchanged | Q higher | Q lower | ||||
Supply Increases | P lower | P can't say | P lower | ||||
(Shifts to the right) | Q higher | Q higher | Q can't say | ||||
Supply Decreases | P higher | P higher | P can't say | ||||
(Shifts to the left) | Q lower | Q can't say | Q lower | ||||