The price could go up or down (ambiguous) but the quantity definitely would decrease
lowered
The price goes down, and the quantity supplied goes up
Quantity supplied will exceed quantity demanded, so the price will drop.
When price rises, the quantity supplied rises; as price falls, the quantity supplied falls.
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
lowered
The price goes down, and the quantity supplied goes up
Quantity supplied will exceed quantity demanded, so the price will drop.
Yes, the equilibrium price equates the quantity supplied to the quantity demanded.
When price rises, the quantity supplied rises; as price falls, the quantity supplied falls.
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
It is Price Elasticity of Supply. It is defined as the ratio of a percentage change in quantity supplied to the percentage change in price (which brought about the change in quantity supplied).
the price increase
equilibrium price
The equilibrium quantity supplied is lower than the actual quantity supplied. The market price is below the equilibrium price.
It will be very sensitive to price change. A change in the price will change the quantity supplied by a factor greater than 1. ps: Price elasticity of supply= (% change in quantity supplied)/(% change in price)