A Simultaneous Increase in Demand and Decrease in Supply Would

question 177

Multiple Choice

A simultaneous increase in demand and decrease in supply would lead to:

• A)increase in the equilibrium price and a decrease in the quantity sold.
• B)increase in both the equilibrium price and the quantity sold.
• C)decrease in both the equilibrium price and the quantity sold.
• D)uncertain effect on the equilibrium price but an increase in the equilibrium quantity.
• E)uncertain effect on the equilibrium quantity but an increase in the equilibrium price.

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