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Equilibrium price - quantity and demand and supply

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Equilibrium Price, Quantity and Demand and Supply

A market is in equilibrium with equilibrium quantity Q* and equilibrium price P*.

What happens to P* if there is an decrease in demand?

What happens to Q* if there is an increase in demand and a decrease in supply?

What happens to P* if there is an increase in supply followed by a decrease in demand followed by another increase in supply?

Reference no: EM1368803

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