If the demand for a product decreases and the supply of the product does not change,equilibrium price and equilibrium quantity will both increase.

Question

Quizplus · Accepted Answer

If the demand for a product decreases and the supply of the product does not change, the equilibrium price and equilibrium quantity will both decrease. This is because there is less demand for the product, so suppliers will have to lower their prices to encourage buyers to purchase the product, resulting in a decrease in equilibrium price and equilibrium quantity.

If the Demand for a Product Decreases and the Supply