(Solved): If a good is in excess supply, what do we expect to happen to the price of the good as the market ...

If a good is in excess supply, what do we expect to happen to the price of the good as the market reaches equilibrium? O It will stay the same. O It will increase. O It will decrease. O We don't have enough information to infer anything. Question 5 2 pts What would cause an increase in the supply of red wine from a local vineyard. O A frost that destroys a portion of the crop. O An increase in the tax on alcohol products. O The implementation of new technology of grape harvesting. O An increase in the price of fertilizers used to grow grapes. Question 6 2 pts As the demand for hand sanitizer increases, what does the demand and supply model predict will happen to the price of hand sanitizer and the quantity of hand sanitizer sold? (Assume only demand is changing, supply stays the same) O The price decreases and the quantity decreases O The price increases and the quantity decreases O The price decreases and the quantity increases O The price increases and the quantity increases