An increase in demand for iphones will
A) increase equilibrium quantity but have an indeterminate effect on the equilibrium price
B) decrease equilibrium price but have an indeterminate effect on the equilibrium quantity
C) decrease equilibrium quantity and decrease equilibrium price
D) increase equilibrium price and increase quilibrium quantity

Question

Quizplus · Accepted Answer

An increase in demand for iPhones will shift the demand curve to the right, leading to a higher equilibrium price and a higher equilibrium quantity as suppliers respond to increased demand with more supply at a higher price.

An Increase in Demand for Iphones Will