When supply and demand for a product decrease simultaneously, we ...

[Charlie]

When supply and demand for a product decrease simultaneously, we
 
  A) can predict that both equilibrium price and quantity will increase.
  B) can predict that both equilibrium price and quantity will decrease.
  C) cannot predict equilibrium price, but know that equilibrium quantity will decrease.
  D) cannot predict the change in either the equilibrium quantity or equilibrium price.

Question 2

An expected future increase in the price of gasoline may
 
  A) increase the demand for gasoline now.
  B) decrease the demand for gasoline now.
  C) increase the supply of gasoline now.
  D) make gasoline an inferior good.

[lkoler]

Answer to Question 1

C

Answer to Question 2

A

[Charlie]

Thanks for the timely response, appreciate it

[lindahyatt42]

Excellent