If supply of a product increases and demand for the product decreases, equilibrium price will definitely change.

Question

Quizplus · Accepted Answer

According to the law of supply and demand, if supply increases and demand decreases, the equilibrium price will decrease. Alternatively, if supply decreases and demand increases, the equilibrium price will increase. Therefore, the equilibrium price will definitely change in this scenario.

If Supply of a Product Increases and Demand for the Product