The equilibrium price rises and the equilibrium quantity falls when demand increases and at the same time supply decreases but the demand shift is larger than the supply shift.
When opposing forces balance each other out and there are no changes happening, the condition is said to be in equilibrium. When supply and demand are equal, this is an example of equilibrium in economics. Being composed and stable is an illustration of equilibrium. Similar to the word number, quantity can be used for singular or plural nouns that can be measured or counted. The primary distinction is that when referring to an inanimate thing, it is preferable to use quantity. Quantity and number, however, can occasionally be used interchangeably, particularly when the noun is plural.
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What happens to the equilibrium price and quantity when demand increases and at the same time supply decreases, but the demand shift is larger than the supply shift?.
a.Both the equilibrium price and equilibrium quantity will rise
b.The equilibrium price falls and the equilibrium quantity rises
c.The equilibrium price rises and the equilibrium quantity falls.
d. Both the equilibrium quantity and price will fall
