What is the most likely real-world reason that we see an increase in price and an increase in the quantity sold?

Marketing Jan 11, 2021

Expert Solution

The most logical answer would be an increase in demand.

For instance, let's say that there is a new scientific study that shows that blueberries are able to prevent Alzheimer's disease. When this news hits consumers, they will naturally want more blueberries. This will result in a shift of the demand curve to the right and the resulting equilibrium point will have a higher price of blueberries as well as a higher quantity sold as farmers decide to produce more blueberries to fulfill the higher demand.

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