If the supply of a product increases, what would we expect?

Question

Quizplus · Accepted Answer

According to the law of supply and demand, if the supply of a product increases, the equilibrium price will decrease and the equilibrium quantity will increase. This is because with more supply available, there is a greater quantity of the product for consumers to purchase, which puts downward pressure on prices. As prices decrease, quantity demanded increases until a new equilibrium point is reached where the quantity supplied equals the quantity demanded at a lower price.

If the Supply of a Product Increases, What Would We