If there is an increase in the supply of cheeseburgers in the market, the market price for cheeseburgers will decrease. Here's why:
1. Law of Supply and Demand: When the supply of a product increases, assuming demand remains constant, there will be an excess supply of cheeseburgers in the market.
2. Excess Supply: With more cheeseburgers available due to the increase in supply, sellers might lower the prices to attract more buyers and clear the excess supply.
3. Competition among Sellers: In a competitive market, if one seller reduces the price of cheeseburgers in response to the increased supply, others may follow suit to remain competitive.
4. Price Adjustment: Ultimately, the market price for cheeseburgers will decrease as sellers adjust prices to balance the increased supply with the existing demand.
Therefore, in summary, an increase in supply of cheeseburgers will lead to a decrease in the market price of cheeseburgers due to the dynamics of supply and demand in the market.
