ECO550- Discussion Forum 2 (week 1)

ECO550- Discussion Forum 2 (week 1) - consumers would pay...

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Supply/Demand Graphs Assuming that the price of a given product is higher than what consumers are willing and able to pay, the graph would move to the right to indicate an increase in price and a decrease in the demand. However, if the price is lower than what the
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Unformatted text preview: consumers would pay for the product than the graph would indicate a leftward shift. With each shift of the graph the indications would also point to the excess and shortage of the product being analyzed....
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