Which would characterize the response in equilibrium price and quantity if demand falls during the market period, ceteris paribus?
A) Both price and quantity fall.
B) Only price falls.
C) Only quantity falls.
D) There is no change in either price or quantity.

Question

Quizplus · Accepted Answer

The Answer of Which would characterize the response in equilibrium price and quantity if demand falls during the market period, ceteris paribus?
A) Both price and quantity fall.
B) Only price falls.
C) Only quantity falls.
D) There is no change in either price or quantity.

Which Would Characterize the Response in Equilibrium Price and Quantity