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Economics

A market is in equilibrium with equilibrium Quantity of MEQ and equilibrium Price of MEP.

a. What happens to Market Equilibrium Quantity (MEQ) if there is an increase in Demand?

b. What happens to Market Equilibrium Price (MEP) if Supply decreases as Demand increases?

c. What happens to Market Equilibrium Quantity (MEQ) after there has been an increase in Supply followed by a decrease in Demand which is followed by another increase in Supply?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9473270

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