If supply and demand for a good both decrease, which of the following is true? A

Subject:MarketingPrice:2.88 Bought3

Share With

If supply and demand for a good both decrease, which of the following is true?

A. Equilibrium price will increase but we cannot say for sure what will happen to the equilibrium quantity.

B. Equilibrium price will decrease but we cannot say for sure what will happen to the equilibrium quantity.

C. Equilibrium quantity will increase but we cannot say for sure what will happen to the equilibrium price.

D. Equilibrium quantity will decrease but we cannot say for sure what will happen to the equilibrium price.

E. Equilibrium price and quantity will both decrease.