If supply and demand both increase, then equilibrium:
A) price will increase, but the effect on equilibrium quantity will depend on the magnitudes of the shifts in supply and demand.
B) price will decrease, but the effect on equilibrium quantity will depend on the magnitudes of the shifts in supply and demand.
C) quantity will increase, but the effect on equilibrium price will depend on the magnitudes of the shifts in supply and demand.
D) quantity will decrease, but the effect on equilibrium price will depend on the magnitudes of the shifts in supply and demand.
Correct Answer:
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