When demand increases, the equilibrium price ________ and the equilibrium quantity ________.

Name: When demand increases, the equilibrium price ________ and the equilibrium quantity ________.
Brand: Quizplus
Rating: 4.9 (47 reviews)

Question

Quizplus · Accepted Answer

When demand increases, the equilibrium price rises due to higher demand for the same supply, and the equilibrium quantity increases as suppliers produce more to meet the higher demand.

When Demand Increases, the Equilibrium Price ________ and the Equilibrium