When increases in the demand for food-shown as rightward shifts in the demand curve-are relatively small when compared to the increases in food supply-shown as right wardshifts in the supply curve-equilibrium price

Question

Quizplus · Accepted Answer

When the increase in supply is greater than the increase in demand, the equilibrium price falls due to the excess supply, and the equilibrium quantity rises as more goods are available and sold at a lower price.

When Increases in the Demand for Food-Shown as Rightward Shifts