When supply and demand for product decreases simultaneously

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Reference no: EM131112584

When supply and demand for a product decreases simultaneously, we can

a. cannot predict the change in either the equilibrium quantity or equilibrium price.

b. cannot predict equilibrium price but know that equilibrium quantity will decrease.

c. predict, that both equilibrium price and quantity will increase.

d. predict, that both equilibrium price and quantity will decrease.

Reference no: EM131112584

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