question 2.2\n0/1 pt\nwhen both supply and demand decrease, the equilibrium price and the equilibrium…

question 2.2\n0/1 pt\nwhen both supply and demand decrease, the equilibrium price and the equilibrium quantity\na. change is uncertain; decreases\nb. change is uncertain; increases\nc. decreases; change is uncertain\nd. increases; change is uncertain\nwhen both supply and demand curves change, the outcome is definite for both equilibrium price and equilibrium quantity.\na. true\nb. false\ndo this test #1 homework incentive assignment before\npart 2 of 2\nmy score: 80.67/116 pls (69.54%)\ncompleted: 84 of 116

question 2.2\n0/1 pt\nwhen both supply and demand decrease, the equilibrium price and the equilibrium quantity\na. change is uncertain; decreases\nb. change is uncertain; increases\nc. decreases; change is uncertain\nd. increases; change is uncertain\nwhen both supply and demand curves change, the outcome is definite for both equilibrium price and equilibrium quantity.\na. true\nb. false\ndo this test #1 homework incentive assignment before\npart 2 of 2\nmy score: 80.67/116 pls (69.54%)\ncompleted: 84 of 116

Answer

Brief Explanations:

When both supply and demand decrease, the change in equilibrium price is uncertain because it depends on the relative magnitudes of the shifts in supply and demand. The equilibrium quantity will definitely decrease as there is less demand and less supply available in the market.

Answer:

A. change is uncertain; decreases