How is equilibrium price of a commodity affected when demand increase but supply remain the same
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How is equilibrium price of a commodity affected when demand increase but supply remain the same
Plzz answer
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Answer:
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
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Answer:
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Explanation:
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
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