Suppose Both Supply and Demand Increase

question 52

Multiple Choice

Suppose both supply and demand increase.What effect will this have on the equilibrium price?

• A) It will fall.
• B) It will rise.
• C) It may rise or fall.
• D) It will remain the same.

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Definitions:

Solving Customer Issues

The process of identifying, addressing, and resolving problems or complaints raised by customers.

Designing Product Logos

The creative process of developing a distinctive visual symbol or emblem that represents a product, brand, or company, enhancing recognition and consumer trust.

Conceptual Skills

Abilities that allow an individual to understand complex situations and develop creative solutions, often crucial for leadership and management roles.

Empathy

The ability to understand and share the feelings of another person, which is crucial in building rapport and trust in sales and customer service.