Labor union membership, as a percent of workers, has steadily declined over the last several decades.

A dominant strategy refers to a strategy where one player knows he will always beat the other player

Indicate whether the statement is true or false

A decrease in demand and an increase in supply results in a(n)

a. decrease in equilibrium price and an ambiguous effect on equilibrium quantity b. increase in equilibrium price and an ambiguous effect on equilibrium quantity c. ambiguous effect on equilibrium price and an increase in equilibrium quantity d. ambiguous effect on equilibrium price and an decrease in equilibrium quantity e. increase in equilibrium price and a decrease in equilibrium quantity