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Suppose demand increases and supply decreases. Which of the following will happen?

a. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease.
b. Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase.
c. The change in equilibrium price and quantity cannot be determined.
d. Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease.
e. Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M942814

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