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if the price of a good dalks then the equilibrum consumption of that

if the price of a good dalks then the equilibrum consumption of that
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Answer:
Effect of price on equilibrium consumption is mentioned below:

  • If Price of Goods rises : If the price of goods rises, its equilibrium consumption will decrease because its natural demand in the market will reduce.
  • If Price of Goods decreases : In this case as the price of goods decreases it may leads to increase in demand in short run, so equilibrium consumption will increase.

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