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Market Equilibrium & Price Controls · Question 33 of 52

Question 33

HardOriginal question

Demand for a good increases and its supply decreases at the same time. Which is certain?

Options for question 33

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. Both changes push the price up, so the price certainly rises.

  2. Quantity is pushed up by demand and down by supply; which wins depends on the sizes.

Concept
Opposite shifts
Typical time
100 s
Your time
—
The rule this testsWhen demand or supply shifts
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Ten questions from Market Equilibrium & Price Controls, at your own pace.

Practise this chapter →

Ten questions from Market Equilibrium & Price Controls, at your own pace.

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