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    Concept of equilibrium when dealing with quantity and price

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    Trying to under the concept of equilibrium when dealing with quantity and price??

    What happens to the price if the supply increases? What happens to the quantity if supply increases and demand decreases? What happens to price if demand increases followed by supply decreasing and then demand increasing?

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    https://brainmass.com/economics/equilibrium/concept-equilibrium-dealing-quantity-price-90297

    Solution Preview

    Supply and demand curves shows how the quantity demanded or supplied changes in response to a change in the price of that good. This variation in price is due to demand and supply forces. Supply and demand curves shows how the quantity demanded or supplied changes in response to a change in the price of that good. Demand curves slope downward, supply slope upward. The determinants of market demand include number of potential buyers and their respective taste, income, other goods and expectations, if any of this change, the demand curve ...

    Solution Summary

    This explains the concept of equilibrium when dealing with quantity and price

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