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If the supply of and demand for a product decrease at the same time, then equilibrium

hliz3

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If the supply of and demand for a product decrease at the same time, then equilibrium

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quantity and equilibrium price must both decline.

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quantity must decline, but equilibrium price may either rise, fall, or remain unchanged.

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price must fall, but equilibrium quantity may either rise, fall, or remain unchanged.

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quantity must fall and equilibrium price must rise.

Textbook

Economics

Edition: 12^th

Author: Arnold

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okayman

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More solutions for this book are available here

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hliz3 Author

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A year ago

this is exactly what I needed

jblazah

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

djeghri

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Helped a lot

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