Explain the effect of the following changes on equilibrium price and quantity of a commodity:
(a) increase in average incomes.
(b) increase in population.

Name: Explain the effect of the following changes on equilibrium price and quantity of a commodity: (a) increase in average incomes. (b) increase in population.
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Question

Explain the effect of the following changes on equilibrium price and quantity of a commodity: 
(a) increase in average incomes. 
(b) increase in population.

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The Answer of Explain the effect of the following changes on equilibrium price and quantity of a commodity: 
(a) increase in average incomes. 
(b) increase in population.

Explain the Effect of the Following Changes on Equilibrium Price