Multiple Choice
If both the supply of and the demand for a good increase simultaneously
A) equilibrium price and equilibrium quantity both increase.
B) equilibrium price increases and the effect on equilibrium quantity is indeterminate.
C) equilibrium quantity increases and the effect on equilibrium price is indeterminate.
D) the effect on both equilibrium price and equilibrium quantity is indeterminate.
Correct Answer:
Verified
Correct Answer:
Verified
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