If Supply and Demand for a Good Both Decrease, Which

question 45

Multiple Choice

If supply and demand for a good both decrease, which of the following is true?

• A) Equilibrium price will rise, but we cannot say for sure what will happen to equilibrium quantity.
• B) Equilibrium price will fall, but we cannot say for sure what will happen to equilibrium quantity.
• C) Equilibrium quantity will rise, but we cannot say for sure what will happen to equilibrium price.
• D) Equilibrium quantity will fall, but we cannot say for sure what will happen to equilibrium price.
• E) Equilibrium price and equilibrium quantity will both fall.

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