Which describes a situation in which the price of a goof would fall?

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2026-08-13 05:35

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A situation in which the price of a good would fall could occur when there is an increase in supply, such as when a new manufacturer enters the market and produces the good at a lower cost. This increase in supply can lead to a surplus, prompting sellers to lower prices to attract buyers. Additionally, if consumer demand decreases—for example, due to a change in consumer preferences or the introduction of a substitute product—this can also lead to a decline in price.

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