When the supply of chocolate decreases while the demand for chocolate also decreases, the equilibrium ________ of chocolate will definitely ________, ceteris paribus.

A) price; increase
B) price; decrease
C) quantity; increase
D) quantity; decrease

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Demand Decreases

A reduction in the quantity of a good that consumers are willing and able to buy at each possible price.