If the demand curve for bottled water shifts rightward and the supply curve of bottled water shifts leftward, the equilibrium

Question

Quizplus · Accepted Answer

When the demand for a product shifts rightward and the supply for the same product shifts leftward, the price of the product will increase. However, it is uncertain whether the quantity of the product will increase or decrease as a result. Therefore, the correct answer is C - the price of bottled water will definitely increase, but we cannot determine the direction of the quantity change.

If the Demand Curve for Bottled Water Shifts Rightward and the Supply