Changes in Market Equilibrium
Practical uses of supply and demand analysis often center on the
different variables that change equilibrium price and quantity,
represented as shifts in the respective curves. Comparative statics of
such a shift traces the effects from the initial equilibrium to the new
equilibrium.
different variables that change equilibrium price and quantity,
represented as shifts in the respective curves. Comparative statics of
such a shift traces the effects from the initial equilibrium to the new
equilibrium.