Economy, asked by jastej94, 7 months ago

If there is an increase in the number of firms in the market, the supply of a commodity will increase or decrease????

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Answered by Anonymous
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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.

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