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Question 5 1 pts If the demand for a product increases, then we would expect equilibrium price 1. tincrease and equilibrium quantity to decrease. 2. to decrease and equilibrium quantity to increase. 3. and equilibrium quantity both to increase. 4. and equilibrium quantity both to decrease. to increase and equilibrium quantity to decrease. to decrease and equilibrium quantity to increase. and equilibrium quantity both to increase. o and equilibrium quantity both to decrease.

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Answer #1

If the demand for a product increases , the demand curve shifts right . The supply curve remains constant . So at every price level more quantity is demanded . Both equilibrium price and quantity increases because there is also an upward movement along the supply curve . Higher quantity supplied to meet the demand . Answer : 3

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