With a given supply curve a decrease in demand causes—————-.
A. an overall decrease in price but an increase in equilibrium quantity.
B. an overall increase in price but a decrease in equilibrium quantity.
C. an overall decrease in price and a decrease in equilibrium quantity.
D. no change in overall price but a reduction in equilibrium quantity.
Answer:C
With a given supply curve a decrease in demand causes—————-.
A. an overall decrease in price but an increase in equilibrium quantity. B. an overall increase in price but a decrease in equilibrium quantity. C. an overall decrease in price and a decrease in equilibrium quantity. D. no change in overall price but a reduction in equilibrium quantity.