Multiple Choice
A decrease in the equilibrium price for a product will result when:
A) the quantity demanded for the product exceeds the quantity supplied.
B) there is a decrease in supply and a decrease in demand for the product.
C) there is an increase in supply and a decrease in demand for the product.
D) there is a decrease in demand and a decrease in the number of firms producing the product.
Correct Answer:
Verified
Correct Answer:
Verified
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