Question

How will the change in prices affect demand for each product?

Answer 1

The four basic laws of supply anddemand are: If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.

Answer 2

the four basic laws of supply and demand are .if demand increases and supply remain unchanged,then it leads to higher equilibrium price and higher quantity.if demand decreases and supply remain unchanged,then it leads to lower equilibrium price and lower quantity.