Answer to Question #94858 in Microeconomics for Elle Marie

Question #94858
Why does an increase in demand for school bags during the start of an academic year raise the quantity of school bags demanded but not the quantity supplied?
1
Expert's answer
2019-09-20T09:25:37-0400

Rise of demand for school bags at the start of school year shifts the demand curve to the right and new equilibrium price is higher than befor that. It is more profitable for suppliers to sell the same quantity but for a higher price and get higher profit.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS