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kennedy Craig
on Nov 17, 2024

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If the supply of a product increases, then we would expect equilibrium price

A) to increase and equilibrium quantity to decrease.
B) to decrease and equilibrium quantity to increase.
C) and equilibrium quantity to both increase.
D) and equilibrium quantity to both decrease.

Equilibrium Price

The market price at which the quantity of a good demanded equals the quantity supplied, leading to market balance.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where market supply and demand balance.

  • Examine the reasons that produce shifts in demand and supply curves, leading to alterations in the equilibrium state.
  • Anticipate the consequences in the market due to variations in market dynamics.
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Harshit BansalNov 21, 2024
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