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Suppose the equilibrium price of housing recently decreased and the equilibrium quantity decreased as well. these changes were caused by a(n)
(increase or decease) in (supply or demand)

Respuesta :

Decrease in demand will cause the equilibrium price and quantity to be decreased.

What may be the impact of the demand and supply on the equilibrium price and quantity?

A fall in the demand of the product, will make the equilibrium price fall too, and the supply will also decrease.

An increase in the supply, will cause the equilibrium price fall, however quantity demanded will increase.

A decrease in demand will cause a reduction in the equilibrium price.

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