Assume that in the market for a good Z there is a simultaneous increase in demand and the quantity supplied. The result will be:
A. An increase in equilibrium price and quantity.
B. A decrease in equilibrium price and quantity.
C. An increase in equilibrium quantity and uncertain effect on equilibrium price.
D. A decrease in equilibrium price and increase in equilibrium quantity.
Answer:C
Assume that in the market for a good Z there is a simultaneous increase in demand and the quantity supplied. The result will be:
A. An increase in equilibrium price and quantity. B. A decrease in equilibrium price and quantity. C. An increase in equilibrium quantity and uncertain effect on equilibrium price. D. A decrease in equilibrium price and increase in equilibrium quantity.