Multiple Choice
If both demand and supply increase, what will be the effect on the equilibrium price and quantity?
A) Both the price and the quantity will increase.
B) The quantity will increase but the price could either rise, fall, or remain the same.
C) The price will fall but the quantity will increase.
D) The price will rise but the quantity could either increase, decrease, or remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: The quantity supplied of a good or
Q19: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above figure
Q20: If the price of aluminum used to
Q21: Which of the following decreases the supply
Q22: Demands differ from wants because<br>A) demands are
Q24: Which of the following shifts the demand
Q25: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q26: The relative price of a good is<br>A)
Q27: If the supply of bottled water decreases
Q28: What will happen to the equilibrium price