Question

explain the chain effect of simultaneous change in demand and change in supply on equilibrium price and equilibrium quantity..?​

Answer 1

Answer:

In Panel (c), since both curves shift to the left by the same amount, equilibrium price does not change; it remains $6 per pound. ... If simultaneous shifts in demand and supply cause equilibrium price or quantity to move in the same direction, then equilibrium price or quantity clearly moves in that direction.

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