Answer to Question #330836 in Microeconomics for siya

Question #330836

In a competitive market, supply and demand decrease simultaneously. The effect on equilibrium quantity is

Expert's answer

The equilibrium quantity will decrease.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. If the demand for motor vehicles decreases due to a drop in consumer income, and if, at the same tim
2. A technological advancement for Good A will shift the _________ curve of Good A to the _________, le
3. A firm operates in aperfectly competitive market . The market price of it's product is 4 birr a
4. The Organisation of Petroleum Exporting Countries (OPEC) is an example of which form of market struc
5. Lerato decided to start selling ginger beer on her street. The other kids in the neighbourhood notic
6. Which oligopoly model(s) has the same results as a competitive model?
7. A firm's demand curve is P = 1 - 2Q. The firm has a current price of R1000 and it sells 100 uni