If Both Market Demand and Supply Decrease Simultaneously, Then Equilibrium

question 18

Multiple Choice

If both market demand and supply decrease simultaneously, then equilibrium quantity will (be) ____ and equilibrium price will (be) ____.

• A)​increase; increase
• B)​indeterminate; decrease
• C)​decrease; indeterminate
• D)​decrease; decrease

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Definitions:

Patterns of interaction

The regular and predictable ways in which people interact and behave towards each other within a society or group.

In-group solidarity

The sense of unity, loyalty, and support among members of a particular group, which distinguishes them from members of other groups.

Contagion

The transmission or spread of an infectious disease or, metaphorically, ideas, emotions, or behaviors from one person to another.

High centrality

A position of great importance or prominence within a network, where a node (e.g., person, organization) has a significant influence over the flow of information or resources.