An Increase in Demand and an Increase in Supply Will

question 307

Multiple Choice

An increase in demand and an increase in supply will lead to

• A) unambiguous increases in both price and quantity.
• B) unambiguous decreases in both price and quantity.
• C) an unambiguous increase in quantity, but the effect on price is indeterminate.
• D) an unambiguous increase in price, but the effect on quantity is indeterminate.

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Definitions:

Specific Performance

A legal remedy where a court orders a party to fulfill their obligations under a contract, rather than simply paying damages.

Supreme Court of Canada

The highest court in Canada, which serves as the final appellate court and decides on issues of national importance.

Land Transaction

An agreement or activity involving the legal transfer of ownership or rights of use in land from one party to another.

Superior Trial Court

A high-level court in some jurisdictions where significant civil and criminal cases are decided.