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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
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Correct Answer: Option D
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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