Multiple Choice
For a given upward-sloping supply curve, an increase in the demand for chocolate chips will result in a _____
A) higher equilibrium price and a lower equilibrium quantity, all other things remaining constant.
B) lower equilibrium price and a lower equilibrium quantity, all other things remaining constant.
C) lower equilibrium price and a higher equilibrium quantity, all other things remaining constant.
D) higher equilibrium price and a higher equilibrium quantity, all other things remaining constant.
E) decrease in the quantity supplied of chocolate chips, all other things remaining constant.
Correct Answer:
Verified
Related Questions