Suppose a market is initially in equilibrium. Then a change occurs and the equilibrium price decreases while the equilibrium quantity increases. What change occurred in the market to cause these changes to price and quantity? a. Decrease in demand b. Increase in demand c. Decrease in supply d. Increase in supply
Suppose a market is initially in equilibrium. Then a change occurs and the equilibrium price decreases while the equilibrium quantity increases. What change occurred in the market to cause these changes to price and quantity? a. Decrease in demand b. Increase in demand c. Decrease in supply d. Increase in supply
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
Problem 3ST
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