if-the-demand-curve-shifts-to-the-right-due-to-increased-consumer-preference-wha

Question

If the demand curve shifts to the right due to increased consumer preference, what happens to the equilibrium price and quantity?

Accepted Answer

Equilibrium price increases, and equilibrium quantity increases.

Answer

Equilibrium price decreases, and equilibrium quantity decreases.

Answer

Both equilibrium price and quantity remain unchanged.

Answer

Both equilibrium price and quantity decrease.