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The graph below shows how the price of wheat varies with the demand quantity. Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied…

The graph below shows how the price of wheat varies with the demand quantity. Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied…
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The graph below shows how the price of wheat varies with the demand quantity.

Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied at each price level. The new equilibrium price (after the increase in supply) is _____.


$3

$4

The graph below shows how the price of wheat varies with the demand quantity. Suppose-example-1
asked
User Joshwaa
by
7.8k points

1 Answer

5 votes

Answer:

3

Step-by-step explanation:

its because of rightward shift on the graph

answered
User Raheel Khan
by
7.9k points
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