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Market for a good is in equilibrium. An increase in demand for the good will
  • a)
    Raise the price
  • b)
    Lower the price
  • c)
    Only quantity exchanged is affected
  • d)
    None of These
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Market for a good is in equilibrium. An increase in demand for the goo...
Answer is "b"because of demand, price slopes everlasting opposite direction,if lower in price demand is increased, higher in price demand is decreased
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Market for a good is in equilibrium. An increase in demand for the good willa)Raise the priceb)Lower the pricec)Only quantity exchanged is affectedd)None of TheseCorrect answer is option 'A'. Can you explain this answer?
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