INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi How Markets Work? Market Forces and Equilibrium soru detayı:

PAYLAŞ:

SORU:

In the Ramadan Holiday, the demand and supply of candy increase seasonally. What will happen to the equilibrium price and quantity?


CEVAP:

When the demand and supply of candy increase seasonally during the Ramadan, what happens to the equilibrium price is uncertain but the equilibrium quantity will certainly be higher as a result of the shift of both curves to the right. Whether the price will increase or decrease will be determined by the relative changes in the demand and supply curves. If the change in demand is more than the change in supply, we can say that the equilibrium price goes up.