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Your business is selling more and more large-screen televisions each month. Applying the law of supply and demand, what do you expect to happen to the price and supply of these televisions over the next few months? The price will increase and supply will increase. The price will decrease and supply will increase. The price will decrease, and supply will decrease The price will Increase, and supply will decrease.

Question

Your business is selling more and more large-screen televisions each month. Applying the law of supply and demand, what do you expect to happen to the price
and supply of these televisions over the next few months?
The price will increase and supply will increase.
The price will decrease and supply will increase.
The price will decrease, and supply will decrease
The price will Increase, and supply will decrease.

Your business is selling more and more large-screen televisions each month. Applying the law of supply and demand, what do you expect to happen to the price and supply of these televisions over the next few months? The price will increase and supply will increase. The price will decrease and supply will increase. The price will decrease, and supply will decrease The price will Increase, and supply will decrease.

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TimothyMaster · Tutor for 5 years

Answer

The price will increase, and supply will increase.

Explain

According to the law of supply and demand, various factors can affect the price and supply of products. In situations where there is an increasing demand for a product, suppliers often increase the supply to meet the higher demand. Concurrently, as demand grows, it can lead to higher prices since more consumers are competing to purchase the product. Therefore, with the growing demand for large-screen televisions, it is logical to anticipate that both the price and supply of these televisions will increase over the next few months.
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