A competitive market is in equilibrium. Then there is a decrease in demand and a decrease in-------------------- supply. The equilibrium price , and the equilibrium quantity-------------------- .
A) perhaps changes but we can't say if it rises, falls, or stays the same; decreases
B) perhaps changes but we can't say if it rises, falls, or stays the same; increases
C) falls; increases
D) rises; increases
E) rises; decreases
Correct Answer:
Verified
Q118: Which of the following results in a
Q119: A change in the price of a
Q120: Which of the following shifts the supply
Q121: Q122: Q124: Market equilibrium Q125: Soda and hot dogs are complements for Q126: A rise in the price of a Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
i. can never occur because there
