Solved

If the Demand for a Product Rises and the Supply

Question 156

Multiple Choice

If the demand for a product rises and the supply stays the same


A) the market clearing price will fall and the equilibrium quantity will rise.
B) the market clearing price will rise and the equilibrium quantity will fall.
C) both the market clearing price and the equilibrium quantity will fall.
D) both the market clearing price and the equilibrium quantity will rise.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q151: A newspaper headline asserts: "Falling Demand Pushes

Q152: The economy is undergoing a recession that

Q153: The more flexible prices are, the<br>A) greater

Q154: What has been the market outcome of

Q155: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -A price floor

Q157: We cannot predict the effect on the

Q158: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Consider the above

Q159: Prices ration goods to<br>A) the people who

Q160: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the

Q161: Ways to ration goods include<br>A) first-come, first-served.<br>B)