Multiple Choice
Ceteris paribus, if the market demand for a product increases, what will happen to the equilibrium quantity and price of the product?
A) The quantity will increase and the price will be indeterminate.
B) The quantity will be indeterminate and the price will decrease.
C) The quantity will decrease and the price will decrease.
D) The quantity will increase and the price will increase.
Correct Answer:
Verified
Correct Answer:
Verified
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