deborahhowell67 deborahhowell67
  • 17-07-2020
  • Business
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“how does a change in supply affect the equilibrium price?”

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austinomg123
austinomg123 austinomg123
  • 17-07-2020

Answer:

An increase in supply is illustrated by a rightward shift of the supply curve, and, all other things equal, this will cause the equilibrium price to fall. A decrease in supply is illustrated by a leftward shift of the supply curve - this will cause the equilibrium price to rise.

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