ilmscore | Microeconomics / Supply and Demand Predictions
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Microeconomics / Supply and Demand

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Recent Predictions

Total: 3
Correct: 0
Incorrect: 0
Pending: 3
Prediction
Author
Predicted at
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Video
If the price of cream (an input for ice cream) significantly decreases, the supply curve for ice cream will shift to the right, resulting in a lower equilibrium price and a higher equilibrium quantity.
"Draw market for for ice cream and show what'll happen if the price of cream and input significantly ..."
Jacob Clifford Jacob Clifford
Aug 5, 2024
Pending
NEW- Macro Unit 1 Su...
When both the supply and demand curves shift simultaneously, either the equilibrium price or the equilibrium quantity (or both) will be indeterminate, meaning its direction of change cannot be definitively determined without knowing the relative magnitudes of the shifts.
"When two curves shift at the same time either price or quantity is going to be indeterminate in othe..."
Jacob Clifford Jacob Clifford
Aug 5, 2024
Pending
NEW- Macro Unit 1 Su...
If both demand and supply decrease, the equilibrium quantity will definitively decrease, but the equilibrium price will be indeterminate (ambiguous), as it could either increase or decrease depending on the relative magnitudes of the shifts.
"Assume you have a question that says the demand's going to fall and the Supply is going to fall what..."
Jacob Clifford Jacob Clifford
Aug 5, 2024
Pending
NEW- Macro Unit 1 Su...