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16 July, 15:17

If supply for a product is high but demand is low, what most likely needs to happen to achieve equilibrium?

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  1. 16 July, 15:23
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    If supply for a product is high but demand is low, the one that most likely needs to happen to achieve equilibrium is: B. The price of the product must go down. High supply of product will create an abundance in the market. By lowering the price of the product, it will attract more consumers for that product (icnreasing its demand) and will eventually lower the product abundance and bring the curve into equilibrium
  2. 16 July, 15:38
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    The Correct Answer is The supply needs to be raised I got the answer wrong when I chose "B" like the one above states is the correct answer but its actually "C"
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