Q

(d) Decrease in supply

The increase in demand from D, to D2 in (a) increases both equilibrium price and quantity. The decrease in demand from D, to D2 in (b) decreases both equilibrium price and quantity. The increase in supply from S, to S2 in (c) decreases equilibrium price and increases equilibrium quantity. The decline in supply from S, to S2 in (d) increases equilibrium price and decreases equilibrium quantity. The boxes in the top right corners summarize the respective changes and outcomes. The upward arrows in those boxes signify increases in demand (D), supply (S), equilibrium price (P), and equilibrium quantity (Q); the downward arrows signify decreases in these items.

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