About this document

First of All by zunairakashif08 is a document available to read on EtoBox.

Firms may respond to price changes by adjusting supply, leading to a movement towards market equilibrium. When prices are set too high, excess demand occurs, prompting firms to raise prices and increase supply, while some consumers may withdraw from the market. Although market adjustments can be delayed due to various factors, there is a persistent tendency for the market to return to equilibrium over time.

Author

zunairakashif08

Language

EN