how do changing prices affect supply and demand? as price increases, both supply and demand increase. as…

how do changing prices affect supply and demand? as price increases, both supply and demand increase. as price decreases, both supply and demand decrease. as price increases, supply decreases, but demand increases. as price decreases, supply decreases, but demand increases.

how do changing prices affect supply and demand? as price increases, both supply and demand increase. as price decreases, both supply and demand decrease. as price increases, supply decreases, but demand increases. as price decreases, supply decreases, but demand increases.

Answer

Brief Explanations:

According to the law of supply and demand, suppliers are more willing to produce and sell at higher prices (supply increases with price rise), while consumers are less willing to buy at higher prices (demand decreases with price rise). Conversely, as price decreases, supply decreases and demand increases.

Answer:

As price decreases, supply decreases, but demand increases.