When there is an excess supply of a good in the market the price will increase c
ID: 1207770 • Letter: W
Question
When there is an excess supply of a good in the market
the price will increase causing a decrease in demand and an increase in quantity supplied.
the price of the product will decrease causing an increase in quantity demanded and an decrease in quantity supplied.
the price of the product will increase causing a decrease in quantity demanded and an increase in quantity supplied.
the price of the product will increase causing a decrease in demand and an increase in supply.
a.the price will increase causing a decrease in demand and an increase in quantity supplied.
b.the price of the product will decrease causing an increase in quantity demanded and an decrease in quantity supplied.
c.the price of the product will increase causing a decrease in quantity demanded and an increase in quantity supplied.
d.the price of the product will increase causing a decrease in demand and an increase in supply.
Explanation / Answer
b. the price of the product will decrease causing an increase in quantity demanded and an decrease in quantity supplied.
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