Figure 4.7
-If demand increases in Figure 4.7,then the equilibrium

Name: Figure 4.7 -If demand increases in Figure 4.7,then the equilibrium
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Question

Quizplus · Accepted Answer

When demand increases, there is a shift in the demand curve to the right. This leads to an increase in both price and quantity as the market moves towards a new equilibrium point where the quantity demanded by consumers matches the quantity supplied by producers at a higher price. Therefore, the best choice is A.

Figure 4.7 -If Demand Increases in Figure 4.7,then the Equilibrium