Which of the following statements is true of a market?
A) An increase in demand, with no change in supply, will increase the equilibrium price and quantity.
B) An increase in supply, with no change in demand, will decrease the equilibrium price and the equilibrium quantity.
C) A decrease in supply, with no change in demand, will decrease the equilibrium price and increase the equilibrium quantity.
D) All of the above.

Question

Quizplus · Accepted Answer

An increase in demand, with no change in supply, typically leads to a higher equilibrium price and quantity, as the demand curve shifts to the right, creating a new intersection point with the supply curve at a higher price and quantity.

Which of the Following Statements Is True of a Market