Question

what will the equilibrium price of a commodity not change even if there is decrease in both demand and suoply?​

Answer 1

Answer:

The decrease in demand = decrease in supply

The decrease in demand = decrease in supplyWhen the magnitudes of the decrease in both demand and supply are equal, it leads to a proportionate shift of both demand and supply curve. Consequently, the equilibrium price remains the same but there is a decrease in the equilibrium quantity.

Explanation:

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Answer 2

Answer:There are 3 cases for increase in demand and supply.  

1) when increase in demand and supply is equal the equilibrium quantity will increase but there will be no change in equilibrium price.  

2) When increase in demand is more than increase in supply there is an increase in equilibrium price as well as quantity but increase in quantity is more than increase in equilibrium price.  

3) When increase in demand is less than increase in supply there is an increase in equilibrium price and equilibrium quantity.