Multiple Choice
If demand increases and supply decreases,
A) equilibrium price will fall and equilibrium quantity will rise
B) equilibrium price and quantity will both rise
C) equilibrium quantity will rise; equilibrium price will either rise or fall
D) equilibrium price will fall; equilibrium quantity will either rise or fall
E) equilibrium price will rise; equilibrium quantity will either rise, fall, or remain unchanged
Correct Answer:
Verified
Correct Answer:
Verified
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