How do shifts in demand or supply affect markets?

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Solution

Shifts in either demand or supply lead to changes in the demand and supply. Any changes in the demand and supply curve results in changes in the equilibrium price and quantity of the goods and services.

Also read:

Consumer Equilibrium Indifference Curve Approach

Market Equilibrium Applications

Features of Indifference Curve

Market Equilibrium

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Similar questions

How are the equilibrium price and quantity affected when

(a) both demand and supply curves shift in the same direction?

(b) demand and supply curves shift in opposite directions?

In what respect do the supply and demand curves in the labour market differ from those in the goods market?

In what respect do the supply and demand curves in the labour market differ from those in the goods market?

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