Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?

Name: Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?
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Question

Quizplus · Accepted Answer

An increase in supply will result in a surplus of the product, causing sellers to lower prices in order to sell their excess supply. This decrease in price will in turn increase the quantity demanded by consumers.

Which of the Following Will Cause a Decrease in Market