How has increased demand and limited supply affected the price of both new and used equipment?

If there is a decrease in the supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services. ... However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.

Explanation:

manifest functions are the recognized and intended consequences of any social pattern, while latent functions are those unrecognized and unintended consequences. to analyze the manifest functions of any social institution, we have to study its contribution to the continuation of a group, community, or society.

answer; the above statement is (true);