Suppose that the demand for apples increased more than the supply of apples increased. The net effect of these two changes would be
A) an increase in the equilibrium price and a decrease in the equilibrium quantity.
B) an increase in the equilibrium price and an increase in the equilibrium quantity.
C) a decrease in the equilibrium price and an increase in the equilibrium quantity.
D) a decrease in the equilibrium price and a decrease in the equilibrium quantity.
Correct Answer:
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