If supply and demand both increase, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A)lower; lower
B)lower; uncertain
C)uncertain; higher
D)higher; higher

Question

Quizplus · Accepted Answer

An increase in demand and an increase in supply will both cause equilibrium quantity to increase, but will have opposing effects on equilibrium price.

If Supply and Demand Both Increase, the New Equilibrium Price