Suppose the Market for a Good Is Initially in Equilibrium

question 173

Multiple Choice

Suppose the market for a good is initially in equilibrium. For a given upward-sloping supply curve, all other things remaining unchanged, an increase in demand will typically _____

• A) increase the equilibrium price but the change the equilibrium quantity in either direction.
• B) increase the equilibrium quantity but change the equilibrium price in either direction.
• C) increase the equilibrium price but leave the equilibrium quantity unchanged.
• D) decrease both the equilibrium quantity and price.
• E) increase both the equilibrium quantity and price.

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