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when both the demand and supply curves shift, the curve that shifts by the smaller magnitude determines the effect on the undetermined equilibrium object.

Respuesta :

The given statement "when both the demand and supply curves shift, the curve that shifts by the smaller magnitude determines the effect on the undetermined equilibrium object." is True.

What is demand supply curve?

  • A supply and demand curve is a graph that illustrates the link between a market's availability of a product and its consumers' desire for it.
  • The equilibrium quantity rises when both the supply and demand curves move to the right, but the equilibrium price can fluctuate depending on how much the two curves move in different directions.
  • The indeterminate equilibrium object will not change if the two shifts' magnitudes are equivalent. Since the supply curve is often upward sloping in the event of a moving demand curve, a shift in the demand curve upward or to the right will result in both a higher equilibrium price and equilibrium quantity.

Learn more about the demand and supply curve with the help of the given link:

https://brainly.com/question/3498279

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