yejinschoi3185 yejinschoi3185

07-10-2020
Business

contestada

Suppose that both the number of buyers and the number of sellers increase. Which of the following will occur?

a. The equilibrium quantity will increase and the equilibrium price will increase.
b. The equilibrium quantity will increase and the effect on the equilibrium price is undetermined.
c. The total effect on equilibrium price and quantity is undetermined.
d. The equilibrium price will increase and the effect on the equilibrium quantity is undetermined.
e. The equilibrium quantity will increase and the equilibrium price will decrease.

Respuesta :

kaancceylan kaancceylan

08-10-2020

Answer:

The answer is B.

Explanation:

If both the number of buyers and the number of sellers increase in a market for a specific product, this results in the equilibrium quantity's increase because of the increase in both supply and demand.

The equilibrium price however depends on other variables and factors so it cannot be determined in this example.

So the correct answer is B.

I hope this answer helps.

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