Question

Which graph shows the increase in the number of sellers?

tent/617767/viewContent/8406969/View XIE Cassandra Mulle CON-... Exercise 3A-Due 3/31-Ch3 Demand and Supply- Quiz sandra Muller: Attempt 1 D1 0 AI (8 D S D S, S S, S1 0 Which of the above araphs shows the effect of an increase in the number of sellers? Activity Detals M Ends Mor 31, 2018 11:55 PM Desktop 04?

Answer 1

a) If the number of suppliers chang, then for the a particular old price, we have more goods supplied than it is demanded. Thus, the supply curve would shift to the right. This will lead to decrease in the equilibrium price.

Thus, option (c) is the correct choice.