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Q: What does the graph illustrate supply?
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A sine-wave graph


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What happens to price and quantity when both demand and supply decrease. And graphically illustrate?

The first graph is clear. But the second graph shows demand's relation to price and supply. Now let's say supply decreases; then p will rise (q = constant, p = >). If demand decreases, then p will decrease as well. When both curves decrease, you will face different situations. How much have they decreased is the main question. Has demand decreased more or less than supply? Let's assume this. So then price will decrease as well (compared to Poriginal).


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Elasticity of Demand and Supply with graph?

buang ka