For a Given Supply Curve, What Will an Increase in Demand

question 154

Multiple Choice

For a given supply curve, what will an increase in demand typically do to price and quantity?  

• A) It will increase price, but quantity could change in either direction. 
• B) It will increase quantity, but price could change in either direction. 
• C) It will decrease both quantity and price. 
• D) It will increase both quantity and price.

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Definitions:

Public Self

An image presented to others in social interactions.

Self-Conscious

The state of being overly aware of oneself, one's appearance, or actions, often leading to discomfort or awkwardness.

Social Context

The immediate physical and social setting in which people live or in which something happens or develops.

Reference Group

A set of people who are used as a gauge in making social comparisons.