mcmillian learning What happens to the demand curve in response to the discovery?* • Demand increases. • Demand decreases. O Demand does not change. b. What happens to the supply curve in response to the discovery? • Supply increases. Supply does not change. • Supply increases. c. What happens to the equilibrium price in the market? • Price stays the same • Price changes ambiguously. Price increases. • Price increases. d. What happens to economic profits of incumbent firms as a result? • Economic profits increase. • Economic profits decrease • Economic profits stay the same.