Multiple Choice
FIGURE 3-5 Refer to Figure 3-5.If supply were to increase and demand were to decrease simultaneously,this would lead to
A) a decrease in equilibrium price and an indeterminate change in quantity.
B) a decrease in equilibrium quantity and an indeterminate change in price.
C) an increase in equilibrium quantity and a decrease in equilibrium price.
D) an increase in equilibrium quantity and an increase in equilibrium price.
E) no change in equilibrium price or quantity.
Correct Answer:
Verified
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