Economy, asked by abhishekanand4645, 3 months ago

How is price affected by increase in demand​

Answers

Answered by asingh90262
2

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

Explanation:

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Answered by Kumar8738
0

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.

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