ECSENOMICS Effect of Increase in Demand on Price Varies in Different Time periods T-64 Figure 8-5 (a) Short-Run Equilibrium (b)Long-Run Equilibrium D 0 Quantity Quantity McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Effect of Increase in Demand on Price Varies in Different Time Periods T-64 Figure 8-5