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.
Correct Answer:
Verified
Correct Answer:
Verified
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