JAMB - Economics (2013 - No. 8)
An increase in demand without a corresponding change in supply will lead to
a decrease in equilirium price and increase in equilibrium quantity
an increase in equilibrium price and quantity
a decrease in equilibrium price and quantity
an increase in equilibrium price and a decrease in equilibrium quantity
Selitys
An increase in demand without a corresponding increase in supply will lead to a rise in price and a decrease in the quantity available for sale.