Market demand for product with no change in market supply

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Reference no: EM131166395

If there were a decrease in the market demand for a product with no change in market supply, the equilibrium price would:

a. increase and the equilibrium quantity increase.

b. increase and the equilibrium quantity decrease.

c. decrease and the equilibrium quantity increase.

d. decrease and the equilibrium quantity decrease.

e. insufficient information.

Reference no: EM131166395

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