Explain in simple words
An increase in supply and a decrease in demand (visa-versa)
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Explanation:
If there is a decrease in supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services. ... However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.
Answered by
1
Answer:
leads to decrease in the price and vice versa
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