Figure 2.14 When Both Curves Shift, the Direction of Either Price or Quantity Will Be Ambiguous
(a) In all three panels, there is an outward shift in demand (D1 to D2) and an inward shift in supply (S1 to S2). Here, both equilibrium price (P1 to P2) and quantity (Q1 to Q2) increase as a result.(b) Equilibrium price increases from P1 to P2, while equilibrium quantity stays the same (Q1 = Q2).(c) Equilibrium price increases from P1 to P2, while equilibrium quantity decreases from Q1 to Q2.