An Increase in Both Supply and Demand Causes Which of the Following

question 85

Multiple Choice

An increase in both supply and demand causes which of the following?

• A) Equilibrium price falls.
• B) Equilibrium price rises.
• C) Equilibrium price change is indeterminate.
• D) Equilibrium quantity change is indeterminate.

---

Definitions:

Preoperational

A stage in Piaget's theory of cognitive development where children from 2 to 7 years old engage in symbolic play and struggle with logic.

Concrete Operational

A stage in Jean Piaget's theory of cognitive development during which children gain the mental operations that enable them to think logically about concrete events.

Cognitive Development

The process of growth and change in intellectual capabilities that occurs from infancy, through childhood, and onto adulthood.

Erik Erikson

A psychoanalyst known for his theory on the psychosocial development of human beings, encompassing eight stages from infancy to adulthood.