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If demand increases without a change in supply, equilibrium price and quantity will

Economics
JAMB 2011

If demand increases without a change in supply, equilibrium price and quantity will

  • A. remain unchanged
  • B. shift inward
  • C. fall
  • D. rise
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Correct Answer: Option D
Explanation

If demand increases without a corresponding increase in supply, prices will go up because consumers would be willing to buy the available commodity at any price due to scarcity.

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