We observe a market in which the price has risen and the quantity sold has risen as well.This could be caused by a(n):

Name: We observe a market in which the price has risen and the quantity sold has risen as well.This could be caused by a(n):
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Question

Quizplus · Accepted Answer

An increase in both price and quantity sold is indicative of an increase in demand. As demand increases, consumers are willing to pay higher prices for the same quantity, and suppliers respond by increasing the quantity supplied at that higher price.

We Observe a Market in Which the Price Has Risen