If there is a decrease in demand for picture frames, we would expect
A) both the price and quantity sold to increase.
B) both the price and quantity sold to decrease.
C) the price to decrease and the quantity sold to increase.
D) the price to increase and the quantity sold to decrease.

Question

Quizplus · Accepted Answer

A decrease in demand typically leads to a lower equilibrium price and a lower quantity sold, as suppliers reduce prices to encourage sales and adjust to the lower demand.

If There Is a Decrease in Demand for Picture Frames