Solved

If Demand Increases and Supply Decreases

Question 198

Multiple Choice

If demand increases and supply decreases,


A) equilibrium price will fall and equilibrium quantity will rise
B) equilibrium price and quantity will both rise
C) equilibrium quantity will rise; equilibrium price will either rise or fall
D) equilibrium price will fall; equilibrium quantity will either rise or fall
E) equilibrium price will rise; equilibrium quantity will either rise, fall, or remain unchanged

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents