What will be the effect of shift in demand curve on the price and quantity of equilibrium? Clarify it by diagram.
Answers
Answered by
1
Explanation:
A decrease in demand and an increase in supply will cause a fall in equilibrium price, but the effect on equilibrium quantity cannot be determined. For any quantity, consumers now place a lower value on the good, and producers are willing to accept a lower price; therefore, price will fall.
Answered by
0
Answer:
it is the effect of shift in demand curve on the price and quantity of equilibrium
Similar questions