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Question regarding the equilibrium price and quantity

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Reference no: EM131111192

A supply-demand graph can be described as having a demand curve that begins in the upper left and slopes downward to the lower right; and having a supply curve that begins in the lower left and slopes upward to the upper right. Using words in a narrative, please describe and explain how both the equilibrium price and quantity will change when:

a) Only supply decreases

b) Only supply increases

c) Only demand increases

d) Only demand decreases

Reference no: EM131111192

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