Assume that the number of sellers and market increase, what will happen to the supply curve for the product, and what will happen to the price and quantity in the market?

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30-06-2022
Business

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Assume that the number of sellers and market increase, what will happen to the supply curve for the product, and what will happen to the price and quantity in the market?

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gauravsingh23VT gauravsingh23VT · Answer 1 · 2022-07-02T10:43:01+02:00

A shift in the number of vendors in a market affects the quantity offered at each price and, consequently, the supply. The supply curve moves to the right as the number of suppliers of an item or service rises.

What is supply curve?

Supply curve is the correlation between the goods and services supplied in a particular quantity for a period of the time. Maximum the quantity supplied is in the horizontal axis and the price is on the vertical axis.

Thus, A shift in the number of vendors in a market affects the quantity

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