🎓 GED Exam Prep

If consumer demand for a popular new smartphone suddenly increases significantly, what is the most likely immediate effect on the market for that smartphone?

A A decrease in its price and an increase in quantity supplied
B An increase in its price and an increase in quantity supplied
C A decrease in its price and a decrease in quantity supplied
D An increase in its price and a decrease in quantity supplied

✓ Correct Answer: Option B

When demand for a product rises sharply, producers can typically charge more for it, leading to an increase in price. This higher price also incentivizes producers to supply more of the product to meet demand.

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