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WAEC Economics 2025 Paper
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Question : 15
Total: 50
When market supply increases, the equilibrium price
and quantity fall
and quantity increase
rises and quantity falls
falls and quantity rises
Validate
Solution:
An increase in supply, with demand remaining constant, leads to a surplus in the market. This surplus puts downward pressure on
the price until it falls to a level where the quantity supplied equals the quantity demanded, i.e., the equilibrium point.
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