For a given market, the equilibrium quantity of the good or service will decrease if _____.(1 point) Responses demand decreases and supply increases demand decreases and supply increases demand increases and supply increases demand increases and supply increases demand increases and supply decreases demand increases and supply decreases demand decreases and supply decreases

Answer 1

For a given market, the equilibrium quantity of the good or service will decrease if demand decreases and supply increases.

When demand decreases, there is less quantity demanded at each price level, and when supply increases, there is more quantity available in the market. However, the decrease in demand has a more pronounced effect on the equilibrium quantity, leading to a decrease in the equilibrium quantity.