Two things happen simultaneously. Both supply and demand of the good decrease. But demand decreases by more than supply does. What will happen to the equilibrium price on this market?   A. The price will increase   B. The price will decrease   C. The change in price will be ambiguous

Brief Principles of Macroeconomics (MindTap Course List)
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Author:N. Gregory Mankiw
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Chapter4: The Market Forces Of Supply And Demand
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  1. Two things happen simultaneously. Both supply and demand of the good decrease. But demand decreases by more than supply does. What will happen to the equilibrium price on this market?

      A.

    The price will increase

      B.

    The price will decrease

      C.

    The change in price will be ambiguous

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