ECON101 Lecture Notes - Substitute Good, Demand Curve, Complementary Good
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ECON101 Full Course Notes
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Right: as sellers expect the future price of the good to be higher, supply curve for the current period shifts to the right. Part d: solving for eqm price and quantity mathematically: Part e: finding eqm price and quantity from a numerical table: Part f: predicting change in eqm price & quantity: Increase in demand: shifts to the and the eqm price & eqm quantity . If there is an increase in demand, demand curve: decrease in demand: shifts to the and the eqm price & eqm quantity . If there is a decrease in demand, demand curve. Increase in supply: to the and the eqm price & eqm quantity . If there is an increase in supply, supply curve shifts: decrease in supply: to the and the eqm price & eqm quantity . If there is a decrease in supply, supply curve shifts. Demand & increase in supply, and the eqm price & eqm quantity .