If a website facilitates the sale of goods by individuals and businesses over the internet, but requires actual photos of every item for sale to be posted instead of a manufacturer's stock picture of the product, both the demand and supply of products in good condition will shift due to the improved information. If supply shifts by more than demand, quantity will _____________ and price will _____________.

Question

Quizplus · Accepted Answer

When supply shifts more than demand, the quantity increases due to more products being available, and the price decreases because the supply increase outweighs the demand increase, leading to a surplus.

If a Website Facilitates the Sale of Goods by Individuals