If there were a decrease in both demand and supply in a market:
A) there would be a decrease in both equilibrium price and quantity.
B) it would not be certain how equilibrium price or quantity would change.
C) there would be a decrease in equilibrium quantity, but it would not be certain how equilibrium price would change.
D) there would be a decrease in equilibrium price, but it would not be certain how equilibrium quantity would change.
Correct Answer:
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