Which idea describes the actions of the Chinese "Boxers"?
1 answer:
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When the equilibrium price and the equilibrium quantity both raise, then there is no change in demand and while supply increased.
<h3>What is the equilibrium point?</h3>In economics, equilibrium means that the price and quantity of any product are equal. This situation clearly defined a situation in which demand equals price and quantity, and there is no shortage and goods remain on the market.
As a result, When both the equilibrium price and the equilibrium quantity rise, there is no change in demand while supply rises. Refer to the image below for the complete question.
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