Multiple Choice
A simultaneous increase in demand and decrease in supply would lead to:
A) increase in the equilibrium price and a decrease in the quantity sold.
B) increase in both the equilibrium price and the quantity sold.
C) decrease in both the equilibrium price and the quantity sold.
D) uncertain effect on the equilibrium price but an increase in the equilibrium quantity.
E) uncertain effect on the equilibrium quantity but an increase in the equilibrium price.
Correct Answer:
Verified
Correct Answer:
Verified
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