The following will lead to an increase in the equilibrium price and quantity: (A) Demand remains constant; supply decreases (B) Demand increases; supply remains constant. O A only O B only O Both the choices are correct. None of the choices are correct.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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The following will lead to an increase in the equilibrium price and quantity:
(A) Demand remains constant; supply decreases
(B) Demand increases; supply remains constant.
O A only
O B only
O Both the choices are correct.
O None of the choices are correct.
Transcribed Image Text:The following will lead to an increase in the equilibrium price and quantity: (A) Demand remains constant; supply decreases (B) Demand increases; supply remains constant. O A only O B only O Both the choices are correct. O None of the choices are correct.
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