What are the effects of shifts in demand on market equilibrium?

Question

Quizplus · Accepted Answer

When there is an increase in demand, the demand curve shifts to the right. This will lead to a higher equilibrium price and a higher equilibrium quantity, as both buyers and sellers are willing to trade at a higher price. Conversely, a decrease in demand will shift the demand curve to the left, resulting in a lower equilibrium price and a lower equilibrium quantity. Therefore, answer C is the best choice.

What Are the Effects of Shifts in Demand on Market