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If the Demand for a Good Increases a the Same

Question 1

Multiple Choice

If the demand for a good increases a the same time the supply of the good decreases, what happens to equilibrium price and quantity?


A) Equilibrium quantity increases, but the effect on equilibrium price is ambiguous
B) Equilibrium quantity decreases, but the effect on equilibrium price is ambiguous
C) Equilibrium price increases, but the effect on equilibrium quantity is ambiguous
D) Equilibrium price decreases, but the effect on equilibrium quantity is ambiguous change "a" to "and at"
If the demand for a good increases a the same time the supply of the good decreases, what happens to equilibrium price and quantity? A) Equilibrium quantity increases, but the effect on equilibrium price is ambiguous B) Equilibrium quantity decreases, but the effect on equilibrium price is ambiguous C) Equilibrium price increases, but the effect on equilibrium quantity is ambiguous D) Equilibrium price decreases, but the effect on equilibrium quantity is ambiguous change a to and at

Correct Answer:

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