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Answer to Question #59703 in Other Economics for Tima

Question #59703
Q) Ceteris paribus, at the same time when demand for yoga services have increased the government has introduced strict regulations on yoga providers, resulting in the decrease in the number of yoga providers. Using demand and supply analysis what will be the impact on price and quantity in the market for yoga services.
Expert's answer
Q) If after the increase in demand for yoga services the government introduces strict regulations on yoga providers, resulting in the decrease in the number of yoga providers, the supply of yoga will decrease, so the equilibrium price of yoga services will increase and the equilibrium quantity may increase, decrease or not change.

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