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qwelly [4]
3 years ago
7

Answer please? Images provided

Business
1 answer:
Bingel [31]3 years ago
7 0

Answer:

An increase in demand

Explanation:

The graph illustrates a shift in demand curves to the right. As a result, the equilibrium price and quantity have increased.

A demand curve will shift to the right due to an increase in demand caused by non-price factors. An increase in demand means that the quantity demanded increases at all the price levels. Factors that may cause an increase in demand include a change in consumer preferences and tastes,  an increase in the price of substitute goods, or a rise in demand for a complement product.

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3 years ago
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Read 2 more answers
How to estimate elasticity?
andrezito [222]
The formula for calculating elasticity is: Price Elasticity of Demand=percent change in quantitypercent change in price Price Elasticity of Demand = percent change in quantity percent change in price .
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