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.
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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