Consider the Market for a Good That Is in Equilibrium

question 58

Multiple Choice

Consider the market for a good that is in equilibrium.Which of these is most likely to occur if both demand and supply for this good decrease during a particular point in time?

• A)The equilibrium price will increase.
• B)The equilibrium price will decrease.
• C)The equilibrium quantity will increase.
• D)The equilibrium quantity will decrease.
• E)Both equilibrium price and quantity will increase.

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