If demand increases and supply decreases, but supply decreases more than demand increases,

a. equilibrium price will fall.
b. equilibrium quantity will fall.
c. quantity sold will increase.
d. the quantities of both demand and supply will increase.

b. equilibrium quantity will fall.

Economics

You might also like to view...

What are social regulation and agency examples?

What will be an ideal response?

Economics

If a group of individual consumers can be treated as a single representative consumer, then the aggregate consumer surplus of the group can be measured along the market demand curve.

Answer the following statement true (T) or false (F)

Economics