If both the demand and supply increase, the equilibrium quantity ________ and the equilibrium price ________.

Name: If both the demand and supply increase, the equilibrium quantity ________ and the equilibrium price ________.
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Question

Quizplus · Accepted Answer

When both demand and supply increase, the equilibrium quantity will increase. However, the effect on equilibrium price is uncertain as it depends on the relative magnitudes of the shifts in demand and supply.

If Both the Demand and Supply Increase, the Equilibrium Quantity