If the demand for cell-phone data decreases and supply decreases, equilibrium quantity?

May increase or decrease and the equilibrium price increases.

Falls and the equilibrium price increases.

Falls the the equilibrium price may increase or decrease.

Falls and the equilibrium price decreases.

Question

22-09-2022
Business

Answered

If the demand for cell-phone data decreases and supply decreases, equilibrium quantity?

May increase or decrease and the equilibrium price increases.

Falls and the equilibrium price increases.

Falls the the equilibrium price may increase or decrease.

Falls and the equilibrium price decreases.

Answer :

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ewomazinoade ewomazinoade · Answer 1 · 2022-09-23T10:58:09-04:00

If the demand for cell-phone data decreases and supply decreases, equilibrium quantity falls the the equilibrium price may increase or decrease. (third option).

What is the impact of a decrease in demand and supply?

When there is a change in demand, it means that other factors other than the price of the good has caused demand to change. An example of such factors is a change in consumer's taste.

When there is a change in demand, the demand curve would either shift to the left or the right. When demand decreases, the demand curve would shift to the left. When demand decreases, both the equilibrium price and quantity would decrease.

When there is a change in supply, it means that other factors other than the price of the good has caused supply to change. An example of such factors is a change in the number of producers.

When there is a change in supply, the supply curve would either shift to the left or the right. When supply decreases, the supply curve would shift to the left. When supply decreases, the equilibrium price quantity increases and equilibrium quantity would decrease.

Taking these two changes together, equilibrium quantity falls the the equilibrium price may increase or decrease.

To learn more about a decrease in demand, please check: https://brainly.com/question/27947567

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If the demand for cell-phone data decreases and supply decreases, equilibrium quantity?May increase or decrease and the equilibrium price increases.Falls and the equilibrium price increases.Falls the the equilibrium price may increase or decrease.Falls and the equilibrium price decreases.

Answer :

What is the impact of a decrease in demand and supply?

Other Questions

If the demand for cell-phone data decreases and supply decreases, equilibrium quantity?

May increase or decrease and the equilibrium price increases.

Falls and the equilibrium price increases.

Falls the the equilibrium price may increase or decrease.

Falls and the equilibrium price decreases.