Suppose That Demand Increases and Supply Decreases

question 269

Multiple Choice

Suppose that demand increases and supply decreases. What would we expect to happen in the market?

• A) Equilibrium price would decrease, but the impact on quantity would be ambiguous.
• B) Equilibrium price would increase, but the impact on quantity would be ambiguous.
• C) Both equilibrium price and quantity would increase.
• D) Both equilibrium price and quantity would decrease.

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