Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 3 - Demand, Supply, and Market Equilibrium - Appendix - Disscussion Questions - Page 80: 6

Answer

The equilibrium quantity will increase but the equilibrium price will decrease.

Work Step by Step

The equilibrium quantity will increase but the equilibrium price will decrease. Reason: The Supply will increase more rapidly as compared to Demand.
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