Question

state the concept of increases or decreases in supply curve with the help of figures​

Answer 1

Now as for price decreases, more consumers start demanding the good or service. Observably, this decrease in price leads to a fall in supply and a rise in demand. This counter mechanism continues until the conditions of excess supply is wiped out at the old equilibrium level and a new equilibrium is established. Effectively, there is a decrease in both equilibrium price and quantity.