question archive Demand decreases and supply decreases
Subject:MarketingPrice:2.88 Bought3
Demand decreases and supply decreases. How will this affect the equilibrium price and equilibrium quantity, that is, do price and quantity increase or decrease, or are the answers indeterminate because they depend on the magnitudes of the shifts?
If the demand decreases and supply decreases, the effect on the equilibrium price will depend on the magnitude of the changes.