in 1 or 2 sentences identify a change (either increase or decrease) in supply or demand that would cause the equilibrium price to increase

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08-06-2016
Business

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in 1 or 2 sentences identify a change (either increase or decrease) in supply or demand that would cause the equilibrium price to increase

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WorldCitizen WorldCitizen · Answer 1 · 2016-06-15T01:06:36+02:00

WorldCitizen WorldCitizen

15-06-2016

Let's say that the demand for the product increases, for example more people move into the area and more people need fresh bread in the morning or more people need to use taxis in this are. If the supply doesn't increase at the same time, the equilibrium prize would increase in this case!

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