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Explain with the aid of well-labelled diagrams the effect of the following conditions on equilibrium price and quantity. (Be creative on how to insert the
Explain with the aid of well-labelled diagrams the effect of the following conditions on equilibrium price and quantity. (Be creative on how to insert the diagram) i. Decrease in demand is equal to decrease in sup (3 marks) ii. Decrease in demand is greater than decrease in supply(3 marks) iii. Decrease in demand is less than decrease in supply (3 marks) iv. Decrease in demand is greater than increase in supply (3 marks) v. Increase in demand is equal to increase in supply (3 marks) vi. Demand increases but supply remains unchanged
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