Consider a market that is in equilibrium.If it experiences both a decrease in demand and a decrease in supply,what can be said of the new equilibrium?
A) The equilibrium price and quantity will both fall.
B) The equilibrium quantity will definitely fall,while the equilibrium price cannot be predicted.
C) The equilibrium price will definitely fall,while the equilibrium quantity cannot be predicted.
D) The equilibrium price and quantity will both rise.
Correct Answer:
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