What happens to the equilibrium price of a good when there is an increase in supply, assuming demand remains constant?

When there is an increase in supply of a good while demand stays the same, the equilibrium price of that good usually decreases. This happens because more of the product is available in the market, making it easier for buyers to find what they want. With more supply, sellers may lower their prices to attract more customers since they have more inventory to sell. For example, if a farmer harvests a larger crop of apples this year but the number of people wanting to buy apples remains the same, the price of apples is likely to drop. Overall, when supply goes up and demand does not change, it leads to lower prices in the market.