Given a current equilibrium in the market for wheat, what happens to the equilibrium price and the equilibrium quantity if the supply for wheat is increased?

Balance is the equality between demand and supply for a good. In a balanced market, an increase in supply will cause the economy to temporarily misfit. As supply increases, there will not be enough demand, which will cause the price of wheat to fall. When price decreases, demand tends to increase and a new break-even point will occur.

The equilibrium price goes down and the equilibrium quantity goes up.

on E2020

Explanation:

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