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The price decreases.

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Hugh Luettgen

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3y ago

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Related Questions

What will happen when the demand for a product increases according to Adam Smith?

Supply increases.


What will happen when the supply of a product increases According to Adam Smith?

the price of the product will decrease


According to Adam Smith what happens when the supply of a product increases?

The price decreases.


What happens when the supply of product decreases according to Adam smith?

The price increases


According to Adam smith what happen when the demand for a product decreases?

Supply increases.


According to Adam smith What happens when demand for a product decreases?

Supply increases.


What According to the law of supply and demand when supply increases what else happens?

According to the law of supply and demand when supply increases, prices will decrease.


When according to the law of supply and demand when supply increases what else happens?

According to the law of supply and demand when supply increases, prices will decrease.


What happen when the demand for a product?

When demand decreases, supply increases.


Supply curves are positively sloped because?

The Supply Curve has a positive slope because as the selling price of the product increases, the willingness of producers to create that product increases as well. With the greater incentive to make that product, production will rise in direct proportion to how much price increases.


What happens when the demand for a product decreases?

When demand decreases, supply increases.


The Law of Supply and Demand states that if the supply of a product increases then the price of that product will?

The Law of Supply and Demand states that if the supply of a product increases, all other factors remaining constant, the price of that product will decrease. This is because with more supply available, there is less scarcity, leading to a lower price point to entice consumers to purchase the product. Conversely, if the supply decreases, the price will increase due to the heightened scarcity and increased demand for the limited supply.