Question: Suppose there is a simultaneous increase in demand and decrease in supply, what effect will this have on the equilibrium price? A. It will rise.

Suppose there is a simultaneous increase in demand and decrease in supply, what effect

will this have on the equilibrium price?

A.

It will rise.

B.

It will fall.

C.

It may rise or fall.

D.

It will remain the same

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