Question

If there is an increase in demand, the quantity will ______ and the price will _____.

a) Increase, Increase
b) Increase, Decrease,
c) Decrease, Increase
d) Decrease, Decrease

Answer 1

When there is an increase in demand, the quantity of a product or service will increase and the price will also increase.

Step-by-step explanation:

When there is an increase in demand, the quantity of a product or service will increase and the price will also increase. This is because when demand increases, consumers are willing to pay more for the product or service, leading to an increase in both the quantity demanded and the price.