If both supply and demand decrease and the shift in supply dominates, which of the following happens?
A) The equilibrium quantity increases.
B) The equilibrium price and the equilibrium quantity decrease.
C) The equilibrium price decreases and equilibrium quantity increases.
D) The equilibrium quantity increases and the equilibrium price change is indeterminate.
E) The equilibrium price increases and the equilibrium quantity decreases.
Correct Answer:
Verified
Q119: The market-day supply curve is
A) horizontal, reflecting
Q120: The law of demand states that
A) demand
Q121: Which of the following is true about
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