Consider the Market for a Good That Is Initially in Equilibrium.For

question 52

Multiple Choice

Consider the market for a good that is initially in equilibrium.For a given upward-sloping supply curve,an increase in demand will typically:

• A)increase price but quantity could change in either direction.
• B)increase quantity but price could change in either direction.
• C)increase price but leave quantity unchanged.
• D)decrease both quantity and price.
• E)increase both quantity and price.

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