Multiple Choice
If demand and supply both increase
A) the equilibrium quantity definitely will increase and market clearing price definitely will decrease.
B) the equilibrium quantity definitely will increase and market clearing price definitely will increase.
C) the equilibrium quantity definitely will increase but the change in market clearing price cannot be determined without more information.
D) market clearing price definitely will increase but the change in the equilibrium quantity cannot be determined without further information.
Correct Answer:
Verified
Correct Answer:
Verified
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