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When supply goes down the equilibrium price tend also to fall
causing the price of commodities to fall and hence shortage of goods and services to the economy.
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∙ 13y ago
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What happens when supply goes up?
When supply goes up, price will go down. This is a result in the shift of the equilibrium price. Drawing graphs will help you conceptualize the results of different curves shifting in different directions.
What happens when supply goes down?
when supply goes down the price goes up>
What happens to the price when there is an excess supply of products?
The price goes down because of supply and demand.
How does supply shock affect equilibrium price and quantity?
Because supply shock is a sudden change of a good. Meaning if it is a negative shock, the equilibrium price and quantity of course will go down. And if it is a positive shock, vice versa of negative.
What generally happens to the equilibrium wage when demand for workers is low and supply is high?
Wage goes down.
What happens when supply goes up?
When supply goes up, price will go down. This is a result in the shift of the equilibrium price. Drawing graphs will help you conceptualize the results of different curves shifting in different directions.
What happens when supply goes down?
when supply goes down the price goes up>
What happens to the price when there is an excess supply of products?
The price goes down because of supply and demand.
What happens to the equilibrium wage when the demand for workers is high and supply is low?
Wage goes down.
What happens when demand for workers is high and supply is low to the equilibrium wage?
Wage goes down.
How does supply shock affect equilibrium price and quantity?
Because supply shock is a sudden change of a good. Meaning if it is a negative shock, the equilibrium price and quantity of course will go down. And if it is a positive shock, vice versa of negative.
What generally happens to the equilibrium wage when demand for workers is low and supply is high?
Wage goes down.
What generally happens to the equilibrium wage when demand for workers is high and supply is low?
Wage goes down.
What generally happens to the equilibrium wage demand for workers is high and supply is low?
Wage goes down.
What happens if theres more demand than supply?
When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
What happens if there is more supply than demand?
When there is more supply than demand, there is commonly a drop in price of the product in an effort to increase the demand and achieve the equilibrium between supply and demand once again. Supply and demand are like a see-saw. As supply goes down, demand goes up; as demand goes up, supply goes down.
When supply decreases and demand remains the same equilibrium price will..and equilibrium quantity will..?
Price decreases while the quantity increases...i think!!!I am improving this answer because this guy's answer is wrong. If supply decreases while demand remains the same price will go up while quantity goes down.
