An increase in demand without a corresponding change in supply will lead to
ECONOMICS
JAMB 2013
An increase in demand without a corresponding change in supply will lead to
- A. a decrease in equilirium price and increase in equilibrium quantity
- B. an increase in equilibrium price and quantity
- C. a decrease in equilibrium price and quantity
- D. an increase in equilibrium price and a decrease in equilibrium quantity
Correct Answer: D. an increase in equilibrium price and a decrease in equilibrium quantity
Explanation
An increase in demand without a corresponding increase in supply will lead to a rise in price and a decrease in the quantity available for sale.
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