An increase in the supply of a good will increase demand for the good

Name: An increase in the supply of a good will increase demand for the good
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Question

Quizplus · Accepted Answer

An increase in the supply of a good will typically lead to a decrease in price, which in turn might lead to an increase in the quantity demanded, but not necessarily to an increase in demand. Demand is determined by factors such as consumer preferences, income levels, and the availability of substitutes, and is not directly affected by changes in supply.

An Increase in the Supply of a Good Will Increase