The result of the changes in the new quantity demanded and supplied would be called as:
d). Excess supply
On the basis of the graph, the price of the good would:
a). They should fall.
Demand and Supply
- As represented by A and B, the increase in the price of the product would cause a fall in the demand of the product's quantity.
- As per the law of supply, the producers are willing to sell more goods at a higher price.
- While the law of supply states that the consumers demand the lower amount and therefore, the supply becomes excess, leading the price to fall.
Thus, options d and a would be the correct answer.
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