Economics · Market Equilibrium
What effect will a simultaneous decrease in demand and an increase in supply have on the equilibrium price of a commodity?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Equilibrium price will definitely fall✓
- 2Equilibrium price will remain constant
- 3Equilibrium price will definitely rise
- 4Equilibrium price can either rise or fall depending on the magnitude of shifts
Correct answer
Equilibrium price will definitely fall
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