Suppose Both the Equilibrium Price and Quantity Rise for a Particular

question 44

Multiple Choice

Suppose both the equilibrium price and quantity rise for a particular product. Which of the following best explains this situation?

• A) Supply and demand simultaneously increased and the shift in supply was greater than the shift in demand.
• B) Supply and demand simultaneously increased and the shift in supply was less than the shift in demand.
• C) Supply and demand simultaneously decreased and the shift in supply was greater than the shift in demand.
• D) Supply and demand simultaneously decreased and the shift in supply was less than the shift in demand.

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