How do changing prices affect supply and demand

Question

asked Jan 27, 2021 155k views

2 Answers

Sundar R · Answer 1 · 2021-02-01T23:50:03+0000

Answer:

If there is a decrease in supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services. ... However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.

Step-by-step explanation:

How do changing prices affect supply and demand

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

Please log in or register to add a comment.

Please log in or register to add a comment.

No related questions found

Categories

Other Questions