An increase in the equilibrium price and a decrease in the equilibrium quantity can be the result of

Name: An increase in the equilibrium price and a decrease in the equilibrium quantity can be the result of
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the law of supply and demand, a decrease in supply results in a decrease in the quantity supplied and an increase in price. Thus, option C is the correct answer as it leads to an increase in equilibrium price and a decrease in the equilibrium quantity.

An Increase in the Equilibrium Price and a Decrease in the Equilibrium