In summer, more people want to buy ice cream. What effect would this have on the equilibrium price and equilibrium quantity for ice cream in the basic demand and supply model? Group of answer choices 1) price and quantity both decrease 2) price decreases, quantity increases 3) price and quantity both increase 4) price increases, quantity decreases

Survey of Economics (MindTap Course List)
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Chapter4: Markets In Action
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In summer, more people want to buy ice cream. What effect would this have on the equilibrium price and equilibrium quantity for ice cream in the basic demand and supply model? Group of answer choices 1) price and quantity both decrease 2) price decreases, quantity increases 3) price and quantity both increase 4) price increases, quantity decreases 

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