If there is an increase in demand with no change in supply will that result in an immediate shortage or surplus? Who will then be forced to compete? What will eventually happen to the price of that product? Will greater or fewer quantities be bought and sold?
1. If there is an increase in demand with no change in supply will that result in an immediate shortage or surplus? Who will then be forced to compete? What will eventually happen to the price of that product? Will greater or fewer quantities be bought and sold?
2. If there is a decrease in demand with no change in supply will that result in an immediate shortage or surplus? Who will then be forced to compete? What will eventually happen to the price of that product? Will greater or fewer quantities be bought and sold?
3. If there is an increase in supply with no change in demand will that result in an immediate shortage or surplus? Who will then be forced to compete? What will eventually happen to the price of that product? Will greater or fewer quantities be bought and sold?
4. If there is a decrease in supply with no change in demand will that result in an immediate shortage or surplus? Who will then be forced to compete? What will eventually happen to the price of that product? Will greater or fewer quantities be bought and sold?
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