Question

what happens to the supply and demand curve at the equilibrium? explain​

Answer 1

${ \huge{ \color{navy}{ \boxed{ \dag \: {a{ \color{blue}n{ \color{green}s{ \color{red}w{ \color{brown}e{ \color{green}r} \: \dag}}}}}}}}}$

A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease. An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.

Answer 2

Answer:

Upward shifts in the supply and demand curves affect the equilibrium price and quantity. If the supply curve shifts upward, meaning supply decreases but demand holds steady, the equilibrium price increases but the quantity falls. For example, if gasoline supplies fall, pump prices are likely to rise.

Explanation: