Multiple Choice
What happens to the equilibrium price and quantity of oranges if the demand for oranges increases, but the supply of oranges decreases?
A) The price and quantity will both increase
B) The price and quantity will both decrease
C) The price will increase, but the quantity will decrease
D) The price will increase, but it cannot be determined what will happen to the quantity.
Correct Answer:
Verified
Correct Answer:
Verified
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