Question

What is the effect of shift in demand on equilibrium price? Expla
with diagram
निम्न सूचनाओं के आधार पर सकल घरेलू उत्पाद तथा सकल राष्ट्रीय उत्पाद
कीजिए:
सं.क्र. मदें
रुपये (करोड़ में)
45,000
(1) शुद्ध राष्ट्रीय उत्पाद
(ii) घिसावट व्यय
7,000
12,000
(iii) आयात
10,000
(iv) निर्यात
Find out Gross Domestic Product and Gross National Product
foration​

Answer 1

Answer:

If the shift to the left of the supply curve is greater than that of the demand curve, the equilibrium price will be higher than it was before, as shown in Panel (b). In this case, the new equilibrium price rises to $7 per pound.