Suppose There Is an Increase in Demand in a Market

question 25

Multiple Choice

Suppose there is an increase in demand in a market and no change in the supply. What will happen to the market equilibrium price and quantity?

• A) Equilibrium price will rise; equilibrium quantity will rise.
• B) Equilibrium price will rise; equilibrium quantity will fall.
• C) Equilibrium price will fall; equilibrium quantity will rise.
• D) Equilibrium price will fall; equilibrium quantity will fall.

---

Definitions:

Personal Values

Core beliefs or standards that individuals hold, guiding their behavior and decision-making processes.

Scientific Observation

The act of noticing and recording phenomena or data in a systematic way as part of a scientific study.

Observations Interpretations

Observations interpretations involve analyzing and making sense of data or phenomena observed, forming conclusions or theories based on empirical evidence.

Experimental Conditions

The controlled variables and environment in which an experiment is conducted to test hypotheses and determine the effects on the dependent variable.