What happens to equilibrium price and quantity in a market when there is an increase in both supply and demand? A) Equilibrium price decreases, equilibrium quantity increases B) Equilibrium price increases, equilibrium quantity decreases C) Equilibrium price and quantity both increase D) Equilibrium price and quantity both decrease

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter4: Demand, Supply, And Markets
Section: Chapter Questions
Problem 6.13P
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Question: What happens to equilibrium price and quantity in a market when there is an increase in both supply and demand? A) Equilibrium price decreases, equilibrium quantity increases B) Equilibrium price increases, equilibrium quantity decreases C) Equilibrium price and quantity both increase D) Equilibrium price and quantity both decrease
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