Multiple Choice
FIGURE 3-5
-Refer to Figure 3-5.If supply and demand were to increase simultaneously,this would lead to
A) an increase in both equilibrium price and quantity.
B) a decrease in both equilibrium price and quantity.
C) an increase in equilibrium quantity and an indeterminate change in price.
D) an increase in equilibrium price and an indeterminate change in equilibrium quantity.
E) no change in equilibrium price or quantity.
Correct Answer:
Verified
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