for a given market, under what condition will the equilibrium quantity of the good or service decrease? (1…

for a given market, under what condition will the equilibrium quantity of the good or service decrease? (1 point)\n\ndemand increases and supply decreases\ndemand decreases and supply decreases\ndemand decreases and supply increases\ndemand increases and supply increases

for a given market, under what condition will the equilibrium quantity of the good or service decrease? (1 point)\n\ndemand increases and supply decreases\ndemand decreases and supply decreases\ndemand decreases and supply increases\ndemand increases and supply increases

Answer

Brief Explanations:

When both demand and supply decrease, the left - ward shift of the demand curve and the left - ward shift of the supply curve lead to a reduction in the equilibrium quantity. An increase in demand with a decrease in supply may lead to an ambiguous change in quantity depending on the magnitude of shifts. A decrease in demand and increase in supply also leads to an ambiguous change in quantity. An increase in both demand and supply leads to an increase in quantity if the magnitudes allow.

Answer:

demand decreases and supply decreases