Name and describe three causes for shifts in the demand curve
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Return to equilibrium
When demand increases, both the equilibrium price and the equilibrium quantity also increase Firm will react to the signs of excess demand and raise their prices
Fall in demand
When'd demand falls the demand curve shifts left excess demand turns into excess supply suppliers respond my cutting prices on their inventory
Excess demand
sudden increase in market demand, the demand curve shifts right Shortage is when quantity demand is greater than quantity supplied