When will an increase in demand imply an increase in price but no change in quantity?
Hey Nisha,
When increase in demand increase is equal to decrease in supply then an increase in demand imply an increase in price but no change in quantity. For explanation, you can refer to study material following the below mentioned path.
Chapter-5 (named as 'Market Equilibrium')- Lesson-2 (named as 'Market Equilibrium under Fixed Number of Firms' )-under the topic 'When increase in demand is equal to the decrease in supply'
When increase in demand increase is equal to decrease in supply then an increase in demand imply an increase in price but no change in quantity. For explanation, you can refer to study material following the below mentioned path.
Chapter-5 (named as 'Market Equilibrium')- Lesson-2 (named as 'Market Equilibrium under Fixed Number of Firms' )-under the topic 'When increase in demand is equal to the decrease in supply'