Washington state had a bumper apple crop this year, significantly increasing the supply of apples in the U. S. Given this information, choose the statement that correctly describes the effect on the U. S. apple market.

Question

Business

Jenny Espinoza

25 May, 21:35

Washington state had a bumper apple crop this year, significantly increasing the supply of apples in the U. S. Given this information, choose the statement that correctly describes the effect on the U. S. apple market.

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Answers (1)

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Grady Horn · Answer 1

the quantity of apples demanded will increase as the price of apples falls

Explanation:

When a supply of a certain product is increased, there amount of that product in the seller's storage tend to become abundant. To make the customers choose to buy the product from them instead of their competitors, most sellers will reduce the price of this product.

Since the price of the product falls, more customers will be able to afford the product with their current disposable income. This is the reason why the quantity of the demand will increase.