Study notes

Changes in Market Equilibrium Price

The equilibrium price and quantity in a market will change when there are shifts in both market supply and demand.

A change in market demand

Changing demand

Analysis diagram showing an outward shift of market demand on market price and quantity

Outward shift of demand

A shift in market supply is shown in the table below

Increase in supply

Analysis diagram to show an outward shift of market supply

Outward shift of market supply

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