How do the price and quantity change for a good if the cost of producing the good decreases?

Name: How do the price and quantity change for a good if the cost of producing the good decreases?
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

When the cost of producing a good decreases, producers can supply more of the good at every price level, shifting the supply curve to the right. This results in a lower equilibrium price and a higher equilibrium quantity, hence price decreases, and quantity increases.

How Do the Price and Quantity Change for a Good