In a small town of 3,000 people,the number of car washes has grown from two to five in the last two months.Which result will likely occur?
A) The increase in supply will have no effect on the equilibrium price.
B) The increase in supply will lead to a decrease in demand.
C) The increase in supply will lead to a decrease in the equilibrium price.
D) The increase in supply will lead to an increase in demand.
E) The increase in supply will lead to an increase in equilibrium price.

Question

Quizplus · Accepted Answer

C)In general, greater availability of goods and services leads to a decrease in price.

In a Small Town of 3,000 People,the Number of Car