Question

Q. An increase in supply generally_____ price and _____ quantity demanded
1. Lowers,raises
2.Raises,lowers
3.Lowers,Lowers
4.Raises,raises

Answer 1

Explanation:

THE ANSWER IS (1)

LOWERS, RAISES...

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Answer 2

Option 1 is the correct answer.

An increase in supply generally lowers price and raises quantity demanded

1. At a higher price sellers are willing to sell more but when demand falls short and there occurs an excess supply then the prices will start to fall because demand is less.
2. While as the prices fall demand increases (based on law of demand).
3. But eventually, sellers will consequently start selling less (based on law of supply).