Question

Explain diagrammatically If market is on equilibrium point if the demand of a commodity are increases what will be impact on equilibrium price and equilibrium quantity??? (supply constant(
OR
Explain diagrammatically the effect on equilibrium price of rise in demand ,supply remain constant.????
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Is this questions same....​

Answer 1

Explanation:

When demand increases: An increase in demand is a situation under which demand curve shifts to the right due to other factors i.e., increase in the price of substitutes, decrease in price of complementary goods, increase in income (normal good) etc. Read more on Sarthaks.com - https://www.sarthaks.com/825388/explain-diagrammatically-how-equilibrium-price-equilibrium-quantity-affected-changes