If the supply and demand for a product both decrease then equilirium quantity and equilibrium price must both A decline. quantity and equilibrium price must both В increase. price must fall, but equilibrium quantity C may either rise, fall, or remain unchanged. quantity must decline, but equilibrium D) price may either rise, fall, or remain unchanged. quantity must fall and equilibrium price (E must rise.

If the supply and demand for a product both decrease then equilirium quantity and equilibrium price must both A decline. quantity and equilibrium price must both В increase. price must fall, but equilibrium quantity C may either rise, fall, or remain unchanged. quantity must decline, but equilibrium D) price may either rise, fall, or remain unchanged. quantity must fall and equilibrium price (E must rise.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 3TY

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