What happens to market price and quantity if demand rises, Ask an Expert

Economics

What happens to market price and quantity if demand rises but supply falls? Draw them with labels. Qd rises from 40 to 60 if P falls from 12 to 8. PED? Show the formula first and then all calculations. Qs falls from 24 to 16 if P falls from 18 to 12. PES? Is PES elastic or inelastic? Show all steps and calculations.

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Business Economics, Economics

Category:- Business Economics
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