If Demand and Supply Both Decrease

question 53

Multiple Choice

If demand and supply both decrease:

• A) both price and quantity will be less.
• B) both price and quantity will go up.
• C) price will fall but quantity will go up.
• D) quantity will go down but the effect on price is indeterminate.

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Definitions:

Equation

A pronouncement in mathematics asserting the equivalence of two expressions.

Factored Form

An expression represented as the product of its factors.

Constructed Figure

A geometric shape that is drawn or created using specific rules or tools.

Expression

A combination of symbols, numbers, and operations (such as addition and multiplication) that represents a mathematical concept.