If Both Demand and Supply Increase, Then the Equilibrium Price

question 39

Multiple Choice

If both demand and supply increase, then the equilibrium price

• A)falls but the equilibrium quantity increases.
• B)falls, and the equilibrium quantity could either increase or decrease.
• C)could either rise or fall, but the equilibrium quantity increases.
• D)and equilibrium quantity increases.
• E)rises, and the equilibrium quantity could either increase or decrease.

Develop problem-solving skills by applying probability theory to diverse situations.

Understand basic probability concepts including events, sample points, and sample space.

Distinguish between union, intersection, and complement of events.

Apply principles of probability to calculate union, intersection, and complement probabilities.

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