If supply is unchanged,a rightward shift in the demand curve for gourmet ice cream will result in:

Question

Quizplus · Accepted Answer

A rightward shift in the demand curve means that at any given price, consumers are willing to purchase a higher quantity of gourmet ice cream. Since the supply is unchanged, there will be excess demand for gourmet ice cream at the existing price, which will lead to an increase in the equilibrium quantity and a higher equilibrium price. Therefore, the best choice is B: An increase in equilibrium quantity and a higher equilibrium price.

If Supply Is Unchanged,a Rightward Shift in the Demand Curve