Which of the following would result from an increase (shift in the right) in the supply curve?

Question

(1 point)
Responses

a market equilibrium price greater than $30
a market equilibrium price greater than 30 dollars

a market equilibrium quantity less than $30
a market equilibrium quantity less than 30 dollars

a market equilibrium price less than $30
a market equilibrium price less than 30 dollars

a market equilibrium quantity greater than $30

Answer 1

An increase (shift to the right) in the supply curve typically leads to a decrease in the market equilibrium price and an increase in the market equilibrium quantity.

Given this understanding, the correct response from the options provided would be:

a market equilibrium price less than $30 (or "a market equilibrium price less than 30 dollars").

This reflects that with an increase in supply, more goods are available at lower prices. The quantity will increase, but the price will fall below the initial equilibrium price.