Last year, a pound of bacon cost $6. Since then, consumers have become more interested in eating a healthy diet. They are no longer willing to pay higher prices for bacon. So, the price of bacon has fallen. What will probably happen to the quantity of bacon supplied?

The quantity of bacon supplied will reduce.

Explanation:

Supply simply means the amount of goods and services that the suppliers of a particular product will willing and ready to sell at a certain price and time period.

In this scenario, we are told that the rice of a pound of bacon was $6 but the price fell because consumers were not ready to pay $6. This will lead to a reduction in the supply of bacon. This is because when the price of goods fall, suppliers reduces their supply for that particular good while in case there's price increase, suppliers increase quantity supplied.

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