Suppose There Is an Increase in Demand in a Market

question 25

Multiple Choice

Suppose there is an increase in demand in a market and no change in the supply. What will happen to the market equilibrium price and quantity?

• A) Equilibrium price will rise; equilibrium quantity will rise.
• B) Equilibrium price will rise; equilibrium quantity will fall.
• C) Equilibrium price will fall; equilibrium quantity will rise.
• D) Equilibrium price will fall; equilibrium quantity will fall.

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