If the demand for a product increases,we would expect

Name: If the demand for a product increases,we would expect
Brand: Quizplus
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Question

Quizplus · Accepted Answer

An increase in demand will lead to a shift in the demand curve to the right. This will cause the equilibrium price and quantity to both increase as there is now more demand for the product at any given price, leading to a higher price and quantity being exchanged. Therefore, the correct answer is (C) equilibrium price and equilibrium quantity both to increase.

If the Demand for a Product Increases,we Would Expect