Market for Goods

Market for good X is in equilibrium. Suppose price of its substitute good Y falls.. Explain its effect on equilibrium price and quantity of good X. Use diagram.

Market for a good is in equilibrium. Supply of the good 'decreases'. Explain the chain of effects of this change on the market for the good. Use diagram.

Market for a good is in equilibrium. What is the effect on equilibrium price and quantity if both market demand and market supply of the good increase in the same proportion? Use diagram.

Market for a good is in equilibrium. What is the effect on equilibrium price and quantity if both market demand and market supply of a good increase in the same proportion. Use diagram.

Market for a good is in equilibrium. Demand for the good 'increases'. Explain the chain of effects of this change.

Market for a good is in equilibrium. The supply of good decreases. Explain the chain of effects of this change.