Multiple Choice
Suppose the market for a good is in equilibrium. Which of the following is most likely to occur if both the demand for and the supply of the good decrease during a particular point in time?
A) The equilibrium price will increase.
B) The equilibrium price will decrease.
C) The equilibrium quantity will increase.
D) The equilibrium quantity will decrease.
E) Both the equilibrium price and quantity will increase.
Correct Answer:
Verified
Correct Answer:
Verified
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