If the demand and supply curves increase (shift outward) by identical proportions then
a. equilibrium price and quantity do not change.
b. equilibrium price and quantity both increase.
c. equilibrium price stays the same and quantity rises.
d. equilibrium price increases but quantity falls. what if the increase in demand were larger than the increase in supply?
a. the equilibrium price and quantity increase.
b. the equilibrium price and quantity decrease.
c. the equilibrium price increases and the quantity decreases.
d. the equilibrium price decreases and the quantity increases. what if the increase in demand were smaller than the increase in supply?
a. equilibrium price and quantity both rise.
b. equilibrium price rises and quantity falls.
c. equilibrium price falls and quantity rises.
d. equlibrium price and quantity both fall.
