If Both Demand and Supply Increase in a Market That

question 55

Multiple Choice

If both demand and supply increase in a market that is initially in equilibrium, the equilibrium price will _____

• A) remain unchanged while the equilibrium quantity will decrease.
• B) remain unchanged while the equilibrium quantity will increase.
• C) increase only if supply increases more than demand.
• D) increase only if demand increases more than supply.
• E) decrease only if supply increases less than demand.

---

Definitions:

Per Stirpes

is a legal term used in wills and estate planning that describes how assets are divided among heirs, according to branches of the family.

Intestacy Laws

The body of law that governs the distribution of a deceased person's estate when they die without a valid will.

Estate

The collective assets and liabilities of a person, especially considered in the context of their will or the administration of their property after death.

Codicil

A written supplement or modification to a will. A codicil must be executed with the same formalities as a will.