General Knowledge Economy Microeconomics

The simultaneous shifts of both the demand curve and the supply curve can happen in which of the following ways?

I. Supply curve shifts leftward and demand curve shifts rightward.

II. Both supply and demand curves shift leftwards.

III. Supply curve shifts rightward and demand curve shifts leftward.

1

Only I

2

II and III

3

I and II

4

I, II and III

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