Which of the following would result in a higher equilibrium price and an ambiguous change in the equilibrium quantity?

Question

Quizplus · Accepted Answer

If there is a decrease in supply and an increase in demand, it will lead to a higher equilibrium price. However, the change in equilibrium quantity is ambiguous as the increase in demand would push the equilibrium quantity up while the decrease in supply would push the equilibrium quantity down, resulting in an uncertain outcome.

Which of the Following Would Result in a Higher Equilibrium