A decrease in supply and a decrease in demand will

Asked by admin @ 26/11/2021 in Business viewed by 315 People

A decrease in supply, with no change in demand, will lead to ________ in equilibrium quantity and ________ in equilibrium price.

a. an increase; an increase
b. an increase; a decrease
c. a decrease; an increase
d. a decrease; a decrease

Answered by admin @ 26/11/2021

Demand refers to the total amount of goods or services a consumer is willing and able to buy at a particular price over a given period of time.

Supply is the total amount of goods and services a producer is willing and able to sell at a particular price over a given period of time.

The law of demand states that "the higher the price, the lower the quantity demanded; the lower the price, the higher the quantity demanded".

Therefore,

A decrease in supply, with no change in demand, will lead to a decrease in equilibrium quantity and an increase in equilibrium price.

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Able, baker, and charles are engaged in the marketing to and enrollment of beneficiaries into medicare health plans. mr. able is an independent agent paid directly by a health plan. ms. baker is an independent agent paid through a field marketing organization (fmo). mr. charles is an independent agent paid for his work by a third-party marketing organization (tmo). how do the cms compensation rules apply to these three agents?

Asked by maham237 @ 13/01/2021 in Business viewed by 2738 persons

A decrease in supply and a decrease in demand will

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