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How will equilibrium be restored if …

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How will equilibrium be restored if at a given price there is excess demand in market.

    • Posted by Ravinder Singh 6 years, 11 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Pragya Tyagi 6 years, 11 months ago

    At excess demand buyers will compete to buy the commodity even at higher prices which will result in an increase in the prices. Due to an increase in the price the demand will fall due to operation of law of demand and supply will increase due to law of supply until the equilibrium is restored.

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