Question

effects of changes in demand and supply of market equilibrium?<br />class 11th economics​

Answer 1

a graph of equilibrium would help to understand it better than an answering

Answer 2

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An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity cannot be detennined.

• 1. For any quantity, consumers now place a higher value on the good,and producers must have a higher price in order to supply the good; therefore, price will increase.