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Can someone explain to me why it says that price increases when demand increases but it doesn't show a price increase on the graph? Thank
Can someone explain to me why it says that price increases when demand increases but it doesn't show a price increase on the graph? Thank you.
Reading Assignment: Demand, Supply, and Markets Review An increase in demand results in a new higher price and a new higher quantity Figure 4.11: New equilibrium after a change in demand. Both the new equilibrium price (about $1.25) and the new equilibrium quantity (about 9,000 oranges) will be higher than before the increase in income
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