If supply is unchanged,a decrease in the demand for soft drinks will cause equilibrium price to:

Question

Quizplus · Accepted Answer

If the demand for soft drinks decreases while the supply remains constant, there will be a surplus of soft drinks in the market. This surplus will cause prices to decrease in order to encourage consumers to purchase more soft drinks. Therefore, the equilibrium price will fall, and the equilibrium quantity will also decrease due to the decrease in demand.

If Supply Is Unchanged,a Decrease in the Demand for Soft