Which of the following would result in an increase in equilibrium price and an ambiguous change in equilibrium quantity?

Question

Quizplus · Accepted Answer

A decrease in supply and an increase in demand would result in an increase in equilibrium price. However, the change in equilibrium quantity is ambiguous as the opposite shifts in supply and demand could lead to an increase or decrease in quantity depending on the relative magnitudes of the shifts.

Which of the Following Would Result in an Increase in Equilibrium