An increase in supply raises the equilibrium price and increases the equilibrium quantity.

Name: An increase in supply raises the equilibrium price and increases the equilibrium quantity.
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Question

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According to the law of supply and demand, an increase in supply will lead to a decrease in the equilibrium price and an increase in the equilibrium quantity. Conversely, a decrease in supply will lead to an increase in the equilibrium price and a decrease in the equilibrium quantity.

An Increase in Supply Raises the Equilibrium Price and Increases