If Both the Supply of and the Demand for a Good

question 71

Multiple Choice

If both the supply of and the demand for a good increase simultaneously, the equilibrium quantity will

• A) increase.
• B) decrease.
• C) be indeterminate.
• D) remain unchanged.

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Definitions:

Sale Price

The actual price at which an item is sold to a buyer.

Procuring

The act of obtaining or acquiring services or goods, often involving a procurement process for businesses or government entities.

Discharge

The release from obligations imposed by the Bankruptcy and Insolvency Act.

Outstanding Mortgage

The remaining amount of money owed on a mortgage not yet repaid to the lender.