If the cost of doing business decreases, the result is _____ equilibrium price and _____ equilibrium quantity.

Name: If the cost of doing business decreases, the result is _____ equilibrium price and _____ equilibrium quantity.
Brand: Quizplus
Rating: 4.9 (52 reviews)

Question

Quizplus · Accepted Answer

When the cost of doing business decreases, it typically leads to a lower equilibrium price because producers can afford to sell their products for less. At the same time, the lower price increases demand, leading to a higher equilibrium quantity sold.

If the Cost of Doing Business Decreases, the Result Is