Asked by George Greer on Jun 08, 2024
Verified
When demand falls and supply rises,equilibrium price will _____ and equilibrium quantity will _____.
Equilibrium Price
The cost at which the amount of a product supplied matches the amount of the product desired.
Equilibrium Quantity
The supply of goods or services meets the demand at the market's equilibrium price.
- Fathom the relationship of supply and demand in shaping the cost and quantity of goods sold.
- Detect the forces that prompt changes in supply and demand curves and fathom their repercussions on market trends.
Verified Answer
ZK
Learning Objectives
- Fathom the relationship of supply and demand in shaping the cost and quantity of goods sold.
- Detect the forces that prompt changes in supply and demand curves and fathom their repercussions on market trends.
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