Multiple Choice
A competitive market is in equilibrium.Then there is an increase in demand and an increase in supply.The equilibrium price ________,and the equilibrium quantity ________.
A) falls;increases
B) perhaps changes but we can't say if it rises,falls or stays the same;increases
C) perhaps changes but we can't say if it rises,falls or stays the same;does not change
D) rises;increases
E) falls;perhaps changes but we can't say if it increases,decreases or stays the same
Correct Answer:
Verified
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