What will be the effect on the equilibrium price when the demand quantity is increased and there is a decrease in the supply quantity of the same goods?
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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.
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. ⬇️⬇️.
it will take a rest effect of the equilibrium price and quantity is increased when there is the departed the supply quantity of the same quotes....
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