What happens to the equilibrium price and equilibrium quantity of a good if both the producers and the consumers of that good expect its price to be higher in the future?

Question

Answer

The equilibrium price will be indeterminate and the equilibrium quantity will go up.

Answer

The equilibrium price will go up and the equilibrium quantity will be indeterminate.

Answer

The equilibrium price will go down and the equilibrium quantity will be indeterminate.

Answer

The equilibrium price will go up and the equilibrium quantity will go up.

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What happens to the equilibrium price and equilibrium quantity of a good if both...

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