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?

Select the best answer from the choices provided.

Question

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?


Select the best answer from the choices provided.

zyleses · Answer

When the quantity supplied is low, the price will be low.
When the quantity supplied increases, the price will get higher.
The price is affected by the interaction of supply and demand.
The price is affected by inflation, not just quantity.

zyleses · Answer

@Elsa213

elsa213 · Answer

What do you suppose the correct answer is?

zyleses · Answer

i think its B

zyleses · Answer

you know the answer

elsa213 · Answer

This might help :3 http://brainly.com/question/925770 Welcome To OpenStudy

zyleses · Answer

they didnt put a answer

elsa213 · Answer

This is a help site. o:
I can't give you answers....