With Respect to the Market Clearing Price and the Equilibrium

question 372

Multiple Choice

With respect to the market clearing price and the equilibrium quantity of good X, increases in the demand for and the supply of good X will definitely

• A)increase the market clearing price of good X but have an uncertain impact on the equilibrium quantity of X.
• B)reduce the market clearing price and the equilibrium quantity of good X.
• C)increase the market clearing price and the equilibrium quantity of good X.
• D)increase the equilibrium quantity of good X but have an uncertain impact on the market clearing price of X.