What happens to equilibrium price when simultaneously demand increases and supply decreases?
A) Equilibrium price will increase.
B) Equilibrium price will decrease.
C) Equilibrium price will remain the same.
D) Equilibrium price may increase,decrease,or remain the same depending on the magnitude of the shifts in demand and supply.
Correct Answer:
Verified
Q93: If the price of tanning salon sessions
Q94: An increase in supply is represented by
Q95: If price increases and sellers supply a
Q96: A decrease in supply means that the
Q97: An improvement in technology will cause
A)the supply
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents