Consider a Market That Is in Equilibrium

question 135

Multiple Choice

Consider a market that is in equilibrium.If it experiences both an increase in demand and an increase in supply,what can be said of the new equilibrium? The equilibrium:

• A) price and quantity will both rise.
• B) quantity will definitely rise, while the equilibrium price cannot be predicted.
• C) price will definitely rise, while the equilibrium quantity cannot be predicted.
• D) price and quantity will both fall.

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