If the supply of a product increases,we would expect

Question

Quizplus · Accepted Answer

According to the law of supply, as the supply of a product increases, the equilibrium price will decrease and the equilibrium quantity will increase. This is because with more supply available, sellers will need to lower their prices to entice buyers to purchase more, resulting in a decrease in price. However, the increase in supply will also result in more units of the product being available, leading to an increase in quantity demanded by consumers. Therefore, the best choice is B.

If the Supply of a Product Increases,we Would Expect