Question

An increase in supply means selling a _________ amount at the same price. (larger / smaller / constant / less), Fill in the blank with appropriate alternative given in the bracket.

Answer 1

An increase in supply means selling a larger amount at the same price.

Answer 2

Answer:

Larger

Explanation:

An increase in supply means selling a larger amount at the same price.

The supply law states that as supply rises, all other variables are equivalent, the price will reduce. Increasing supply means supplying a greater amount at the same cost. An increase in demand is triggered by variables such as the falling factor prices, the technological developments, favoured public policies, etc. The increase in supply is represented by the shift of the supply curve towards the right