Ceteris paribus, if the market demand for a product increases, what will happen to the equilibrium quantity and price of the product? The quantity will increase, and the price will be indeterminate. The quantity will be indeterminate, and the price will decrease. The quantity will decrease, and the price will decrease. The quantity will increase, and the price will increase.

Ceteris paribus, if the market demand for a product increases, what will happen to the equilibrium quantity and price of the product? The quantity will increase, and the price will be indeterminate. The quantity will be indeterminate, and the price will decrease. The quantity will decrease, and the price will decrease. The quantity will increase, and the price will increase.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Ceteris paribus, if the market demand for a product increases, what will happen to the equilibrium quantity and price
of the product?
The quantity will increase, and the price will be indeterminate.
The quantity will be indeterminate, and the price will decrease.
The quantity will decrease, and the price will decrease.
The quantity will increase, and the price will increase.

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