when supply decreases and demand increases, what happens to the price of a good?

(1 point)
Responses

it increases

it increases

it stays the same

it stays the same

it decreases

it decreases

it is unaffected

it is unaffected
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1 answer

When supply decreases and demand increases, the price of a good typically increases. This is because there are fewer goods available (supply decreases), while more consumers want to purchase the good (demand increases), leading to upward pressure on the price.