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Suppose That for a Given Good,demand Decreases and Supply Decreases

Question 60

Multiple Choice

Suppose that for a given good,demand decreases and supply decreases at the same time.If demand decreases by a greater amount than supply decreases,then equilibrium price __________ and equilibrium quantity __________ for that good.


A) rises; rises
B) rises; falls
C) falls; rises
D) falls; falls

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