During finals week, the quantity of coffee demanded at every price doubles. The supply, however, does not change. What happens to the equilibrium price and quantity?

A. Both price and quantity increase, but they do not double.
B. The quantity doubles and the price increases, but it does not double.
C. Both price and quantity double.
D. The price doubles and the quantity remains unchanged.

Question

15-06-2024
Business

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During finals week, the quantity of coffee demanded at every price doubles. The supply, however, does not change. What happens to the equilibrium price and quantity?

A. Both price and quantity increase, but they do not double.
B. The quantity doubles and the price increases, but it does not double.
C. Both price and quantity double.
D. The price doubles and the quantity remains unchanged.

Sagot :

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