what-happens-to-the-equilibrium-price-and-quantity-of-smartphones-in-the-short-r

Question

What happens to the equilibrium price and quantity of smartphones in the short run if demand increases?

Accepted Answer

Both equilibrium price and quantity increase.

Answer

Both equilibrium price and quantity decrease.

Answer

Equilibrium price decreases, but quantity increases.

Answer

Equilibrium price increases, but quantity decreases.