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an increase in supply will have what effect on equilibrium price and quantity? a.price will decrease; quantity will increase. b.price will increase; quantity will decrease. c.both price and quantity will increase. d.both price and quantity will decrease.

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When there is an increase in supply, the effect on equilibrium price and quantity is a.price will decrease; quantity will increase.

What happens when supply increases?

When supply increases, this will lead to a rightward shift in the supply curve. The new equilibrium point will therefore be pushed to the right.

This new equilibrium point would point to more quantity provided to the market but will also lead to a lower price as a result of reduced scarcity of the good or service in question.

Find out more on the effects of an changes in supply at https://brainly.com/question/2223110

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