For a Given Upward-Sloping Supply Curve, an Increase in the Demand

question 59

Multiple Choice

For a given upward-sloping supply curve, an increase in the demand for chocolate chips will result in a _____

• A) higher equilibrium price and a lower equilibrium quantity, all other things remaining constant.
• B) lower equilibrium price and a lower equilibrium quantity, all other things remaining constant.
• C) lower equilibrium price and a higher equilibrium quantity, all other things remaining constant.
• D) higher equilibrium price and a higher equilibrium quantity, all other things remaining constant.
• E) decrease in the quantity supplied of chocolate chips, all other things remaining constant.

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