Question

effect of change in production quantity falls on ​

Answer 1

Answer:

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Explanation:

Excess demand will cause the price to rise, and as price rises producers are willing to sell more, thereby increasing output. 1. A change in supply will cause equilibrium price and output to change inopposite directions.

Answer 2

Answer:

A decrease in demand and an increase in supply will cause a fall in equilibrium price, but the effect on equilibrium quantity cannot be determined. 1. For any quantity, consumers now place a lower value on the good, and producers are willing to accept a lower price; therefore, price will fall.