Economy, asked by aderinsolatoluwalase, 9 months ago

reasons for higher than expected demand

Answers

Answered by adrija7
7

Changes in factors like average income and preferences can cause an entire demand curve to shift right or left. This causes a higher or lower quantity to be demanded at a given price. Ceteris paribus assumption. Demand curves relate the prices and quantities demanded assuming no other factors change.

Answered by karan511671
18

Answer:

Here's the answer

An increase in the willingness and ability

of buyers to purchase a good at the existing price, illustrated by a rightward shift of the demand curve. An increase in demand is caused by a change in a demand determinant and results in an increase in equilibrium quantity and an increase in equilibrium price.

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