Which of the following changes in equilibrium price and quantity is as a result ...
Question
Which of the following changes in equilibrium price and quantity is as a result of an upward shift in the market demand for a commodity?Options
A)
Both the price and the quantity fall
B)
The price rise and the quantity falls
C)
The price falls and the quantity rises
D)
Both the price and the quantity rise
Related Lesson: Equilibrium Price and Quantity | Theory of Price Determination
The correct answer is D.
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