If the Supply and Demand Curves for a Product Both

Multiple Choice

If the supply and demand curves for a product both decrease, we can say that equilibrium:

A) quantity must fall and equilibrium price must rise.
B) price must fall, but equilibrium quantity may either rise, fall, or remain unchanged.
C) quantity must decline, but equilibrium price may either rise, fall, or remain unchanged.
D) quantity and equilibrium price must both decline.