If Both the Demand for a Product and the Supply

question 213

Multiple Choice

If both the demand for a product and the supply of it decrease, then the equilibrium quantity will ________ and the equilibrium price will ________.

• A) increase; either increase, decrease, or remain constant
• B) decrease; either increase, decrease, or remain constant
• C) increase; increase
• D) increase; decrease

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Definitions:

Speech

The expression of thoughts and feelings through articulated sounds.

Conclusion

The end or finish of an event, process, or text, often involving a final judgment or decision based on the information or arguments presented.

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The junctions through which neurons signal to each other or to non-neuronal cells such as those in muscles or glands.

Childhood

The period of life from birth to adolescence, characterized by rapid physical growth, cognitive development, and emotional maturation.