JAMB Economics 2011 Objective — Question 2

Question 2 of 49 from the Joint Admissions and Matriculation Board (JAMB) Economics 2011 Objective paper, with the correct answer and a full explanation.

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

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

Explanation

Both price and quantity will rise if it is only demand that increases while supply remains constant.

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