An increase in demand, all other things unchanged, will result in _____ in equilibrium price and _____ in equilibrium quantity.
A)an increase; an increase
B)a decrease; a decrease
C)a decrease; an increase
D)an increase; a decrease

Question

Quizplus · Accepted Answer

An increase in demand, with supply unchanged, leads to a higher equilibrium price and a higher equilibrium quantity as the demand curve shifts to the right.

An Increase in Demand, All Other Things Unchanged, Will Result