Economics 0455 · IGCSE · Price determination

Price determination — practice question

The diagram illustrates the demand curve $D_1$ and supply curve $S_1$ for healthcare in an economy. The initial equilibrium is X. What will be the new equilibrium if the economy undergoes continuous economic growth and the government eases planning restrictions on constructing new hospitals?

  • AA
  • BB
  • CC
  • DD

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