Question

Market for a Goods is in equilibrium, There is a simultaneous decrease in both demand and

supply, But there is no change in market price .

Explain its effect on Equilibrium quantity. Use Diagram​

Answer 1

$question$

Market for a Goods is in equilibrium, There is a simultaneous decrease in both demand and

Market for a Goods is in equilibrium, There is a simultaneous decrease in both demand and supply, But there is no change in market price .

Market for a Goods is in equilibrium, There is a simultaneous decrease in both demand and supply, But there is no change in market price .Explain its effect on Equilibrium quantity. Use Diagram

$answer$

An dcrease in supply will cause an increase in the equilibrium price and a decrease in the equilibrium quantity of a good. ... A decrease in demand and an increase in supply will cause a fall in equilibrium price, but the effect on equilibrium quantity cannot be determined

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