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    Managerial Economics and Business Strategy Study Set 1
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    Exam 2: Market Forces: Demand and Supply
  5. Question
    Suppose Both Supply and Demand Decrease
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Suppose Both Supply and Demand Decrease

Question 113

Question 113

Multiple Choice

Suppose both supply and demand decrease.What effect will this have on price?


A) It will fall.
B) It will rise.
C) It may rise or fall.
D) It will remain the same.

Correct Answer:

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