Economy, asked by swopx100, 8 months ago

describe the effect on equilibrium prices in local market

Answers

Answered by sharda36

Answer:

As you can see, an increase in demand causes the equilibrium price to rise. On the other hand, a decrease in demand causes the equilibrium price to fall. An increase in supply causes the equilibrium price to fall, while a decrease in supply causes the equilibrium price to rise.

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