Given a positively sloped supply curve, when market demand increases
A) the new equilibrium will have a higher price and a smaller quantity.
B) the new equilibrium will have a higher price and a larger quantity.
C) the new equilibrium will have the same price and larger quantity.
D) the new equilibrium will have a lower price and a smaller quantity.
E) the new equilibrium will have a lower price and a greater quantity.
Correct Answer:
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