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English, 27.03.2020 03:17 mbatton879

2. What causes Equilibrium prices to change?
Give examples.

An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity cannot be detennined. ... For any quantity, consumers now place a higher value on the good, and producers must have a higher price in order to supply the good; therefore, price will increase.

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2. What causes Equilibrium prices to change?
Give examples.

An increase in demand...
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