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find out the equilibrium price, quantity, demand, and supply.

Equilibrium

Consider the following graph in which demand and supply are initially D and S, respectively. What are the equilibrium price and quantity? If demand increases to D1, Illustrate what are the new equilibrium price also quantity. What happens if the government does not allow the price to change when demand increases?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M918335

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