during the covid - 19 pandemic, the demand for used cars increased while the supply of used cars decreased…

during the covid - 19 pandemic, the demand for used cars increased while the supply of used cars decreased by a larger amount than the increase in demand. the result was equilibrium price and equilibrium quantity \n\na. increasing; decreasing\nb. decreasing; decreasing\nc. decreasing; increasing\nd. increasing; increasing

during the covid - 19 pandemic, the demand for used cars increased while the supply of used cars decreased by a larger amount than the increase in demand. the result was equilibrium price and equilibrium quantity \n\na. increasing; decreasing\nb. decreasing; decreasing\nc. decreasing; increasing\nd. increasing; increasing

Answer

Brief Explanations:

When demand for used - cars increases, it puts upward pressure on price. When supply decreases by a larger amount than the increase in demand, the overall effect on quantity is a decrease (less supply available despite higher demand), and the upward pressure on price from both the demand increase and supply decrease results in an increase in equilibrium price.

Answer:

A. increasing; decreasing