If demand increases by a lesser amount than supply decreases,then equilibrium price __________ and equilibrium quantity __________.

Name: If demand increases by a lesser amount than supply decreases,then equilibrium price __________ and equilibrium quantity __________.
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Question

Quizplus · Accepted Answer

When supply decreases more than demand increases, the reduction in supply leads to a higher equilibrium price, while the equilibrium quantity falls due to the overall decrease in available supply.

If Demand Increases by a Lesser Amount Than Supply Decreases,then