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If the supply and demand curves both move the same amount in relation to each other, the system can stay in equilibrium without anything else changing but if supply and demand decrease by different amounts the price could change when the new equilibrium is formed but without knowing the relative changes of each, you would not know whether the price would go up or down.
What else can I help you with?
What happens when the demand for a product decreases?
When demand decreases, supply increases.
If demand decreases and supply is constant what happens to the equilibrium price?
If demand decreases and supply is constant, the price will increase.
What happens to both the supply and demand as the price decreases?
If the price decreases then the economic law of demand & supply comes in operation with increase in demand and decrease in supply, as the producer will not supply at the price unsuitable to them in the market .
According to Adam Smith what happens when demand for a good increases?
The supply decreases.
What happens if the supply decreases and demand is constant?
Then you will sell out quickly. You better restock
What happens when the demand for a product decreases?
When demand decreases, supply increases.
If demand decreases and supply is constant what happens to the equilibrium price?
If demand decreases and supply is constant, the price will increase.
When demand decreases and supply decreases what happens?
prices go higher
What happens to both the supply and demand as the price decreases?
If the price decreases then the economic law of demand & supply comes in operation with increase in demand and decrease in supply, as the producer will not supply at the price unsuitable to them in the market .
According to Adam Smith what happens when demand for a good increases?
The supply decreases.
What happens if the supply decreases and demand is constant?
Then you will sell out quickly. You better restock
What happens to the equilibrium price when demand increases and supply decreases?
It goes up
According to Adam smith What happens when demand for a product decreases?
Supply increases.
Is demand needed in equilibrium?
Yes. Equilibrium is created at the intersection of the Demand curve and Supply Curve. Equilibrium can be shifted if the Demand curve increases or decreases, and the same happens when the Supply curve increases or decreases. Without demand, you would just have a Supply curve.
What happens if the prices of commodities fall?
When the prices of the commodities fall, the demand of that commodity usually increases. On the same note the supply of the given commodity usually decreases as well.
What are the main determinats of price elasticity?
Well as demand increases the price will usually go up. As supply increases the price will usually go down. On the other hand if demand decreases the price will usually go down. If supply decreases the price will usually go up.
What happen when the demand for a product?
When demand decreases, supply increases.
