Asked by
Patrisha Ivy Balagso
on Dec 17, 2024
Verified
Equilibrium quantity must decrease when
A) demand increases and supply decreases.
B) demand decreases and supply increases.
C) demand increases and supply does not change.
D) demand does not change and supply decreases.
Equilibrium Quantity
The amount of goods or services available matches the amount people want to buy at the current market price.
- Acquire knowledge on the idea of market balance and the role of supply and demand in deciding the equilibrium price and quantity.
Verified Answer
AR
Learning Objectives
- Acquire knowledge on the idea of market balance and the role of supply and demand in deciding the equilibrium price and quantity.