Multiple Choice
Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve.As a result
A) both the equilibrium price and quantity of DVD players will decrease.
B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease.
C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease.
D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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