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3:36 6:40 Suggested clip Finding equilibrium price and quantity using linear demand and YouTubeStart of suggested client of suggested clip Finding equilibrium price and quantity using linear demand and
3:36 6:40 Suggested clip Finding equilibrium price and quantity using linear demand and YouTubeStart of suggested client of suggested clip Finding equilibrium price and quantity using linear demand and
The interactions of buyers (demand) and sellers (supply) determine the price of a good or service. The equilibrium price is the price where the quantity demanded is equal to the quantity supplied. That quantity is known as the equilibrium quantity.
3:40 7:22 Suggested clip How to Plot demand curve and supply curve to find equilibrium price YouTubeStart of suggested client of suggested clip How to Plot demand curve and supply curve to find equilibrium price
If demand increases and supply increases then equilibrium quantity goes up, and equilibrium price could go up, down, or stay the same. If demand increases and supply decreases then equilibrium quantity could go up, down, or stay the same, and equilibrium price will go up.
If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
Equilibrium price increases and equilibrium quantity decreases. When demand decreases what happens to price and quantity in equilibrium? a. Equilibrium price increases and equilibrium quantity increases.
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