Question

When the supply of a particular good increases beyond the demand, the good's price will likely:

Answer 1

When the supply of a particular good increases beyond the demand, the good's price will likely decrease.

Step-by-step explanation:

When the supply of a particular good increases beyond the demand, the good's price will likely decrease. This is because when there is an excess supply, producers will lower the price in order to sell the excess goods. In turn, this lower price may attract more buyers and stimulate demand for the good, eventually reaching a new equilibrium price and quantity.