-Refer to the information above to answer this question.Assume that the market was at equilibrium and that demand increases by 20 units.What will be the new equilibrium price and quantity?
A)Price will rise by $2 and quantity traded will rise by 20 units.
B)Price will fall by $2 and quantity traded will fall by 20 units.
C)Price will rise by $1 and quantity traded will rise by 10 units.
D)Price will fall by $1 and quantity traded will fall by 10 units.

Question

-Refer to the information above to answer this question.Assume that the market was at equilibrium and that demand increases by 20 units.What will be the new equilibrium price and quantity?
A)Price will rise by $2 and quantity traded will rise by 20 units. 
B)Price will fall by $2 and quantity traded will fall by 20 units. 
C)Price will rise by $1 and quantity traded will rise by 10 units. 
D)Price will fall by $1 and quantity traded will fall by 10 units.

Quizplus · Accepted Answer

The Answer of 
-Refer to the information above to answer this question.Assume that the market was at equilibrium and that demand increases by 20 units.What will be the new equilibrium price and quantity?
A)Price will rise by $2 and quantity traded will rise by 20 units. 
B)Price will fall by $2 and quantity traded will fall by 20 units. 
C)Price will rise by $1 and quantity traded will rise by 10 units. 
D)Price will fall by $1 and quantity traded will fall by 10 units.

-Refer to the Information Above to Answer This Question