Multiple Choice
If both the supply of and the demand for a good decrease simultaneously, but the decrease in demand is greater than the decrease in supply, then the equilibrium price _____ and equilibrium output _____.
A) falls; falls
B) may rise, fall, or stay the same; falls
C) may rise, fall, or stay the same; rises
D) falls; may rise, fall, or stay the same
Correct Answer:
Verified
Correct Answer:
Verified
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