If supply is upward sloping,an increase in demand,all other things unchanged,will result in a(n)_____ in equilibrium price and a(n)_____ in equilibrium quantity.
A)increase;increase
B)decrease;decrease
C)decrease;increase
D)increase;decrease

Question

Quizplus · Accepted Answer

When demand increases and supply is upward sloping, the equilibrium price and quantity will both increase. This is because as demand increases, suppliers are willing to supply more at higher prices, leading to an increase in both price and quantity.

If Supply Is Upward Sloping,an Increase in Demand,all Other Things