An increase in the price and an ambiguous change in quantity is most likely caused by:
A)a shift to the left in demand and no shift in supply.
B)a shift to the left in supply and no shift in demand.
C)a shift to the right in supply and a shift to the left in demand.
D)a shift to the left in supply and a shift to the right in demand.

Question

Quizplus · Accepted Answer

An increase in price with an ambiguous change in quantity is likely due to a leftward shift in supply (decreasing supply) and a rightward shift in demand (increasing demand), which both push the price up but have opposing effects on quantity.

An Increase in the Price and an Ambiguous Change in Quantity