In Figure 6-6B above,as the number of sellers increases,the price
A)increases.
B)stays the same.
C)has no relation to the number of sellers.
D)decreases.
E)fluctuates depending on economic conditions.

Question

Quizplus · Accepted Answer

As the number of sellers increases, the supply of the product increases as well, resulting in a shift to the right in the supply curve. This leads to a lower equilibrium price (where supply equals demand), as shown in the graph. Therefore, the price decreases as the number of sellers increases.

In Figure 6-6B Above,as the Number of Sellers Increases,the Price