show the effect of market equilibrium demand curve if rise of petrol are expected to rise in a future.
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Heya...
If the price of petrol will raise in future then it increased its demand in present...
So in market equilibrium demand will shift rightward where supply is constant ....See attachment ...
If the price of petrol will raise in future then it increased its demand in present...
So in market equilibrium demand will shift rightward where supply is constant ....See attachment ...
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