An increase in price could occur due to a(n)
A)Increase in demand and no change in supply
B)Decrease in supply and no change in demand
C)An increase in demand and decrease in supply
D)All of the above

Question

​An increase in price could occur due to a(n)
A)​Increase in demand and no change in supply
B)Decrease in supply and no change in demand
C)An increase in demand and decrease in supply
D)​All of the above

Quizplus · Accepted Answer

All the scenarios listed (increase in demand with no change in supply, decrease in supply with no change in demand, and both an increase in demand and a decrease in supply) can lead to an increase in price according to basic principles of supply and demand.

​An Increase in Price Could Occur Due to A(n)

An Increase in Price Could Occur Due to A(n)