Given a Positively Sloped Supply Curve, When Market Demand Increases

question 72

Multiple Choice

Given a positively sloped supply curve, when market demand increases

• A)the new equilibrium will have a higher price and a smaller quantity.
• B)the new equilibrium will have a higher price and a larger quantity.
• C)the new equilibrium will have the same price and larger quantity.
• D)the new equilibrium will have a lower price and a smaller quantity.
• E)the new equilibrium will have a lower price and a greater quantity.