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Author Question: Suppose demand decreases and supply decreases. Which of the following will happen? a. equilibrium ... (Read 21 times)

michelleunicorn

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on: Jul 1, 2018
Suppose demand decreases and supply decreases. Which of the following will happen?
 a. equilibrium price will increase
  b. equilibrium price will decrease
  c. equilibrium quantity will increase
  d. equilibrium quantity will decrease
  e. neither the equilibrium price nor the quantity will change

Question 2

If demand increases and supply decreases,
 a. equilibrium price will fall and equilibrium quantity will rise
  b. equilibrium price and quantity will both rise
  c. equilibrium quantity will rise; equilibrium price will either rise or fall
  d. equilibrium price will fall; equilibrium quantity will either rise or fall
  e. equilibrium price will rise; equilibrium quantity will either rise, fall, or remain unchanged


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lorealeza

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

E


michelleunicorn

  • Member
  • Posts: 565
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

blakcmamba

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  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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