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644-q3 True or False? Explain. a.If the demand and supply for a product both increase, the equilibrium quantity of the product must also increase b.If

644-q3

True or False? Explain.

a.If the demand and supply for a product both increase, the equilibrium quantity of the product must also increase

b.If the demand and supply for a product both increase, the equilibrium price of the product must also increase

c.If the demand for a product decreases and the supply of the product increases, the equilibrium price of the product may increase or decrease, depending on whether supply or demand has shifted more.

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