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Supply and demand shifting at the same time

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    Quite often in Edexcel Unit 1, the first question for the data response section involves a supply and demand diagram in which they both shift, for whatever reason.

    For example, see the question 10a mark scheme here:

    http://www.edexcel.com/migrationdocu...7_US021258.pdf

    Supply decreases and demand increases, obviously increasing the equilibrium price. However, surely the change in equilibrium quantity depends on the extent of the change in demand and supply? They show the quantity decreasing, however would I get marked down if I were to show a large increase in demand, a small decrease in supply, and therefore a rise in equilibrium quantity?

    Thanks
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    please help my exam's tomorrow!
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    (Original post by tinto99)
    Quite often in Edexcel Unit 1, the first question for the data response section involves a supply and demand diagram in which they both shift, for whatever reason.

    For example, see the question 10a mark scheme here:

    http://www.edexcel.com/migrationdocu...7_US021258.pdf

    Supply decreases and demand increases, obviously increasing the equilibrium price. However, surely the change in equilibrium quantity depends on the extent of the change in demand and supply? They show the quantity decreasing, however would I get marked down if I were to show a large increase in demand, a small decrease in supply, and therefore a rise in equilibrium quantity?

    Thanks
    Doesn't really matter.

    Just get the shifts right, and the quantities labelled, and you'll be fine

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Updated: May 17, 2012
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