Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?

Question

Quizplus · Accepted Answer

An increase in supply will cause a surplus, as there is more supply than demand at the initial equilibrium price. To reduce the surplus, suppliers will lower the price, which will attract more buyers and increase the quantity demanded, shifting the equilibrium towards a lower price and a higher quantity.

Which of the Following Will Cause a Decrease in Market