Question
Which of the following statements is/are true?
- If increase in demand and supply are of equal magnitude, the price will remain unchanged, but the equilibrium quantity will increase.
- If increase in demand is of greater magnitude than increase in supply, both equilibrium price and equilibrium quantity will increase.
- If increase in supply is of greater magnitude than increase in demand, equilibrium price will fall but equilibrium quantity will increase.
Answer: Option D
Answer: (d)
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Answer: (d)
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