If both supply and demand decreased, but supply decreased more than demand, the result would be a.

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If both supply and demand decreased, but supply decreased more than demand, the result would be

a. a higher price and a lower equilibrium quantity.

b. a lower price and a lower equilibrium quantity.

c. no change in the price and a lower equilibrium quantity.

d. a higher price and a greater equilibrium quantity.

e. a lower price and a greater equilibrium quantity.

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Related Book For book-img-for-question

Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:01 AM

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If both supply and demand decreased, but supply decreased more than demand, the result would be a.

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Exploring Microeconomics

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