A drop in output demand accompanied by a simultaneous drop in output supply will cause the output price to fall.

Name: A drop in output demand accompanied by a simultaneous drop in output supply will cause the output price to fall.
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Question

Quizplus · Accepted Answer

A simultaneous drop in both output demand and supply leaves the effect on output price ambiguous without knowing the relative magnitude of the shifts in demand and supply.

A Drop in Output Demand Accompanied by a Simultaneous Drop