An increase in the demand for GM automobiles results in:
A)a lower equilibrium price for GM automobiles.
B)an increase in the quantity supplied of GM automobiles.
C)an increase in the supply of GM automobiles.
D)a lower equilibrium quantity of GM automobiles.

Question

Quizplus · Accepted Answer

An increase in demand raises the equilibrium price, leading the quantity supplied to increase.

An Increase in the Demand for GM Automobiles Results In