jonesz66996 jonesz66996

20-02-2021
Business

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If the supply of a good increased, what would be the effect on the equilibrium price and quantity?

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aliciaumaunika aliciaumaunika

20-02-2021

Answer:

An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.

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