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

By: |Published on: Oct 23|Categories: Economics JAMB| 0 comments

A. remain unchanged
B. shift inward
C. fall
D. rise

Correct Answer:

Option D – rise

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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