If the number of buyers in a market increases from 50 to 100,you would expect the equilibrium price to ________ and the equilibrium quantity to ________,holding all else constant.
A) increase; increase
B) increase; decrease
C) decrease; decrease
D) decrease; increase
E) remain the same; remain the same

Question

Quizplus · Accepted Answer

When the number of buyers in a market increases, demand for the product typically increases, leading to a higher equilibrium price and a higher equilibrium quantity, assuming all other factors remain constant.

If the Number of Buyers in a Market Increases from 50