If supply increases and demand decreases, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A)lower; lower
B)lower; uncertain
C)higher; higher
D)higher; uncertain

Question

Quizplus · Accepted Answer

An increase in supply and a decrease in demand will both cause equilibrium price to fall, but will have opposing effects on equilibrium quantity

If Supply Increases and Demand Decreases, the New Equilibrium Price