If the demand for a product increases and the supply of the same product increases, the equilibrium price will increase.

Name: If the demand for a product increases and the supply of the same product increases, the equilibrium price will increase.
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Question

Quizplus · Accepted Answer

The equilibrium price depends on the relative magnitudes of the shifts in demand and supply. If both increase, the equilibrium price could rise, fall, or remain unchanged depending on which shift is larger.

If the Demand for a Product Increases and the Supply