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If There Were an Increase in the Demand for a Product

Question 192

Multiple Choice

If there were an increase in the demand for a product in a market and no change in supply, you would expect:


A) an increase in the product's equilibrium price and equilibrium quantity.
B) an increase in the product's equilibrium price and a decrease in its equilibrium quantity.
C) a decrease in the product's equilibrium price and an increase in its equilibrium quantity.
D) a decrease in the product's equilibrium price and equilibrium quantity.

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