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Bringing Supply and Demand TogetherIf the decrease in demand is greater than the increase in supply, the equilibrium quantity will decrease
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səhifə | 7/18 | tarix | 02.04.2022 | ölçüsü | 3,11 Mb. | | #84988 |
| Bringing demand and supply togetherIf the decrease in demand is greater than the increase in supply, the equilibrium quantity will decrease. - If the decrease in demand is greater than the increase in supply, the equilibrium quantity will decrease.
- If the increase in supply is greater than the decrease in demand, the equilibrium quantity will increase.
Notice that the seasonal increases in demand led to a shortage at the original (out of season) price. - Notice that the seasonal increases in demand led to a shortage at the original (out of season) price.
- When a shortage exists the price will rise until the new equilibrium is reached. In this case, at the intersection of the in-season demand curve and the supply curve.
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