Assume That Supply Increases Slightly and Demand Increases Greatly

question 15

Multiple Choice

Assume that supply increases slightly and demand increases greatly. Which of the following will happen?

• A) Equilibrium price will fall and equilibrium quantity will rise.
• B) Equilibrium price will rise and equilibrium quantity will fall.
• C) Equilibrium price will rise and equilibrium quantity will rise.
• D) Equilibrium price will fall and equilibrium quantity will fall.
• E) Neither equilibrium price nor equilibrium quantity will change.

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