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Decrease in Demand
At the initial equilibrium price P1, quantity demanded falls from q1 to qd. But the quantity supplied is still q1 at this price. Hence, this creates excess of supply over demand, and this causes price to fall to a new equilibrium level P2 and quantity to fall to a new equilibrium level q2.
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Decrease in Demand At the initial equilibrium price P 1 , quantity demanded falls from q 1 to q d . But the quantity supplied is still q 1 at this price. Hence, this
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