A decrease in equilibrium quantity would result from

Question

Quizplus · Accepted Answer

In both situations where there is a decrease in supply with no change in demand or a decrease in demand with no change in supply, there would be less of the good or service available in the market, leading to a decrease in equilibrium quantity. This is because the intersection of the demand and supply curves (equilibrium point) would shift to the left in both scenarios, resulting in a lower quantity traded.

A Decrease in Equilibrium Quantity Would Result from