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If the Market Supply Decreases And, Simultaneously, Market Demand Increases

Question 1

Multiple Choice

If the market supply decreases and, simultaneously, market demand increases, the new equilibrium will show:


A) market price will increase, decrease or remain the same and quantity exchanged will
Decrease.
B) market price will increase and market quantity exchanged will decrease.
C) market price will decrease and the quantity exchanged could increase, decrease or remain the same.
D) market price will increase and market quantity exchanged could increase, decrease or remain unchanged.

Correct Answer:

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