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Sagot :
When the equilibrium price of sugar increases, the equilibrium quantity will decrease. This is because price and quantity have an inverse relationship.
A market-clearing price often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.
It is possible to utilize a mathematical formula to determine the equilibrium price. The equilibrium pricing formula is based on amounts of supply and demand; to find the price, put the quantity demanded (Qd) equal to the quantity supplied (Qs) (P). Here is an illustration of the equation: Qs = -125 + 20P when Qd = 100 - 5P.
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