CBSE Class 12-commerce Answered
What kind of relationship exists between the change in
equilibrium price and equilibrium quantity with a shift in demand curve?
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
Expert Answer
When the demand curve shift towards right, the price of the good tends to increase with increase in demand for good.
When the demand curve shift towards left, the price of the good reduces with a decline in the demand for good.
Thus, the direction of change in equilibrium price and quantity is same, whenever there is a shift in the demand curve.
Answered by | 26 Apr, 2016, 09:26: AM
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERTCBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 26 Apr, 2016, 07:26: AM
ANSWERED BY EXPERT
