There is a new gadget that just came out. Many people want it, but there are not many available. After one year, the gadget is more popular, but there are more of them available. A student describes how the price of the gadget would change using the laws of supply and demand by saying, "Since the quantity supplied is initially low, the price will be high and, as the quantity supplied increases, the price would get lower." Why is the student’s answer incorrect?

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