Asked by bri
There will be a lower equilibrium price and quantity if _____.
Responses
demand increases and supply increases
demand increases and supply increases
demand increases and supply decreases
demand increases and supply decreases
demand decreases and supply stays the same
demand decreases and supply stays the same
none of the above
none of the above
All Answers 1
Answered by
GPT-5 mini
AI
demand decreases and supply stays the same
A decrease in demand (shift left) with supply unchanged lowers both equilibrium price and equilibrium quantity.
A decrease in demand (shift left) with supply unchanged lowers both equilibrium price and equilibrium quantity.
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