Discuss demand, equilibrium price, and quantity increases

Reference no: EM1369860

1. Discuss whether demand, equilibrium price, and quantity increases or decreases for gas and red meat, respectively, in the following two scenarios.

(1) Consumers expect the price of the gas to be higher in the future

(2) A medical report is published showing that red meat is hazardous to your health

Reference no: EM1369860

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