Answer to Question #130670 in Microeconomics for Mehroosa

Question #130670
If demand increases and supply decline, the equilibrium price and quantity will both increase. true or false explain.
1
Expert's answer
2020-08-27T13:37:18-0400

If demand increases and supply decline, the equilibrium price will definitely increase, but the quantity may either increase or decrease.

So, the statement is false.


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