An Increase in Demand for a Product and a Reduction

Multiple Choice

An increase in demand for a product and a reduction in the costs of production would:

A) ​increase the equilibrium quantity and increase the equilibrium price.
B) ​increase the equilibrium quantity and decrease the equilibrium price.
C) ​increase the equilibrium quantity and cause an indeterminate change in the equilibrium price.
D) ​decrease the equilibrium quantity and cause an indeterminate change in the equilibrium price.