If the Demand for Housing Increases and the Supply of Housing

question 152

Multiple Choice

If the demand for housing increases and the supply of housing decreases:

• A) price will go up and quantity will go down.
• B) price and quantity will both go up.
• C) price will increase, but the quantity change is indeterminate.
• D) the quantity will be higher, but the change in price is indeterminate.

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