Asked by
Gaviota Moreno
on Oct 13, 2024Verified
When demand falls and supply stays the same,
A) equilibrium quantity rises.
B) equilibrium quantity falls.
C) equilibrium quantity stays the same.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.
Demand Falls
A situation where there is a decrease in the quantity of a product or service that consumers are willing and able to purchase at a given price.
- Determine the consequences of supply and demand shifts on the equilibrium of price and quantity.
Verified Answer
NL
Learning Objectives
- Determine the consequences of supply and demand shifts on the equilibrium of price and quantity.