Homework Answers
Answer
Increase in demand results in rightward shift of demand curve and Decrease in supply results in leftward shift in supply curve.
We can see from above graph that Point X is on leftward demand curve and Rightward supply curve and Point Z is on rightward demand curve and leftward supply curve. This means that From point X to point Z, demand increases and supply decreases. Hence option (A) is the correct answer.
From Point Z to X, demand decreases, From Point W to Y, Supply increases and from Y to W demand decreases. Hence (B), (C) and (D) are incorrect.
Hence, the correct answer is (A) movement along Point X to Point Z.
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