Question

if the price oil is decreasing and the supply remains the same, how will it affect the market equilibrium​

Answer 1

If both demand and supply decrease, there will be a decrease in the equilibrium output, but the effect on price cannot be determined. 1. If both demand and supply decrease, consumers wish to buy less andfirms wish to supply less, so output will fall.

Answer 2

Answer:

If these resource prices are determined by demand and supply then they will reflect the relative ... All other factors remain the same - only the price and quantity demanded change. ... This economic principle also explains why the demand curve is downward sloping. ... Market

Explanation: