Economics · Demand and Supply
Which of the following statements regarding the demand and supply curves is true?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1When the supply increases, both the equilibrium price and quantity will increase.
- 2When the supply increases, the supply curve shifts towards the left.
- 3A shift in the supply curve towards the right results in a fall in the price, ceteris paribus.✓
- 4When the supply decreases, both the equilibrium price and quantity will decrease.
Correct answer
A shift in the supply curve towards the right results in a fall in the price, ceteris paribus.
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