An increase in both the equilibrium price and the equilibrium quantity of DVD players is best explained by:
A)an increase in the demand for DVD players.
B)an increase in the supply of DVD players.
C)a decrease in the supply of DVD players.
D)a decrease in the demand for DVD players.

Question

Quizplus · Accepted Answer

When demand increases, both the equilibrium price and the equilibrium quantity will rise.

An Increase in Both the Equilibrium Price and the Equilibrium