An increase in demand without a corresponding change in supply will lead to
A. a decrease in equilirium price and increase in equilibrium quantity B. an increase in equilibrium price and quantity C. a decrease in equilibrium price and quantity D. an increase in equilibrium price and a decrease in equilibrium quantity
Correct Answer: D
Explanation
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.
