Multiple Choice
A decrease in demand coupled with a decrease in supply results in a(n)
A) increase in equilibrium price and a decrease in equilibrium quantity
B) decrease in equilibrium price and a decrease in equilibrium quantity
C) increase in equilibrium price and a increase in equilibrium quantity
D) ambiguous effect of equilibrium price and a decrease in equilibrium quantity
E) ambiguous effect on equilibrium price and a increase in equilibrium quantity
Correct Answer:
Verified
Correct Answer:
Verified
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