If the Supply and Demand Curves for a Product Both

question 250

Multiple Choice

If the supply and demand curves for a product both decrease, we can say that equilibrium:

• A)quantity must fall and equilibrium price must rise.
• B)price must fall, but equilibrium quantity may either rise, fall, or remain unchanged.
• C)quantity must decline, but equilibrium price may either rise, fall, or remain unchanged.
• D)quantity and equilibrium price must both decline.

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Definitions:

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