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Conclude that the new equilibrium

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If supply decreases and demand also decreases, we can conclude that the new equilibrium:

a. quantity must increase but market price may fall, stay the same, or even increase.

b. price must fall but market quantity may fall, stay the same, or even increase.

c. price must increase but market quantity may fall, stay the same, or even increase.

d. quantity must decrease but market price may fall, stay the same, or even increase.

e. both market quantity and market price must increase.

f. market quantity must increase and market price must decrease.

Reference no: EM132975905

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