3 years ago

If the demand and supply curves for product X are stable, a goverment mandated increase in the price of X will:_______

Business

1 answer:

shepuryov [24]3 years ago

4 0

Answer: C. . increase the quantity supplied of X and decrease the quantity demanded of X.

Explanation:

If the demand and supply curves for product X are stable, a goverment mandated increase in the price of X will result into the increase the quantity supplied of X and decrease the quantity demanded of X.

This is because when there is a rise in price, the suppliers will be willing to supply more while the consumers will demand less of the product.

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