In response to rising car traffic, demand for bicycles has increased. the new equilibrium point will show a. more bicycles sold, but at a higher price. b. fewer bicycles sold, but at a higher price. c. more bicycles sold, but at a lower price. d. fewer bicycles sold, but at a lower price.

a. more bicycles sold, but at a higher price

Explanation:

"Equilibrium is the state in which market supply and demand balance each other, and as a result, prices become stable. Generally, an over-supply of goods or services causes prices to go down, which results in higher demand. The balancing effect of supply and demand results in a state of equilibrium."

Reference: Chen, James. “Equilibrium Definition.” Investopedia, Investopedia, 24 May 2019

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