question archive An increase in the demand for oranges is expected to cause A
An increase in the demand for oranges is expected to cause A
Subject:MarketingPrice:2.88 Bought3
An increase in the demand for oranges is expected to cause
A. an increase in the price of an orange.
B. an increase in the number of oranges consumed.
C. an increase in the number of oranges sold.
D. all of the above
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Answer: D
When the demand for oranges increases the equilibrium quantity and equilibrium price both rise. This means that we expect the price to rise and the quantity supplied and quantity demanded to rise assuming the market is allowed to reach its new equilibrium.
