5) Moving to another question will save this response. Question 10 In a competit

Question

5) Moving to another question will save this response. Question 10 In a competitive market, if the demand increases and the supply does not change, which of the following will result? the equilibrium price will not change but the equilibrium quantity demanded will increase both the equilibrium price and the equilibrium quantity demanded will increase o the equilibrium price will increase but the equilibrium quantity demanded will decrease the equilibrium price will decrease but the equilibrium quantity demanded will increase. Moving to another question will save this response.

Explanation / Answer

In a competitive market , if the demand increases and the supply does not change . Then, demand curve shifts to the right. As a result, equilibrium price will increases and equilibrium quantity demanded will also increase . Hence, option(B) I.e both the equilibrium price and equilibrium quantity demanded will increase is correct.

Related Questions

Navigate

• Browse (All)
• Browse 5
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.