How does this change effect the point of market equilibrium

Reference no: EM131175850

The supply equation for a certain commodity is x = 4p - 3 The demand equation is 2x + 4p = 15. The commodity suddenly increases in popularity which is reflected in an upward adjustment in the demand curve. This adjustment creates a new demand curve, parallel to the old one and such that at every price the demand is 3 units higher than previously. Find the new demand equation. How does this change effect the point of market equilibrium?

Reference no: EM131175850

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