An increase in the demand for a product will cause output to a. increase and bot

Question

An increase in the demand for a product will cause output to

a.

increase and both the demand for and prices of the resources used to produce the product to increase.

b.

increase and both the demand for and prices of the resources used to produce the product to decrease.

c.

decrease; the demand for the resources used to produce the product will remain constant.

d.

decrease; the price of resources used to produce the product will decrease.

a.

increase and both the demand for and prices of the resources used to produce the product to increase.

b.

increase and both the demand for and prices of the resources used to produce the product to decrease.

c.

decrease; the demand for the resources used to produce the product will remain constant.

d.

decrease; the price of resources used to produce the product will decrease.

Explanation / Answer

A

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