Question

refer to the graph. assume the market for this product started out at the intersection of d2 and s1. then supply shifted from s1 to s2 due to an excise tax imposed on the product. if demand subsequently shifts from d2 to d1, then which of the following will decrease? g

Answer 1

The equilibrium price has decreased.

Economic market equilibrium happens when supply and demand degrees align, growing the best marketplace situations for shoppers and dealers. The kinds of economic equilibrium include microeconomic and macroeconomic. In microeconomics, delivery and call among customers and sellers are balanced.

Equilibrium is crucial to create both a balanced market and an efficient market. If a market is at its equilibrium fee and amount, then it has no reason to move far away from that factor, because it's balancing the amount provided and the amount demanded.

Learn more about equilibrium here: https://brainly.com/question/26075805

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