Question

If demand increases and supply stays the same, there will be a _____. Lower equilibrium price and quantity lower equilibrium price and higher quantity higher equilibrium price and quantity higher equilibrium price and lower quantity

Answer 1

higher equilibrium price and lower quantity

Step-by-step explanation:

EDGE 2021 :)

Answer 2

Higher equilibrium price and lower quantity

Step-by-step explanation:

If demands increases and the supply remains same then the equilibrium price of the quantity increases decreases the equilibirium quantity due to high demand of quantity.

Therefore, Correct option is (d) i.e., higher equilibrium price and lower quantity