Final answer:
The impact on equilibrium price when both supply and demand decrease is indeterminate without further information, as the price may increase, decrease, or stay the same depending on the magnitude of shifts in the curves. Moreover, buyers might pay more than the equilibrium price due to various market factors.
Step-by-step explanation:
The statement "If both supply and demand for some good decrease, then the equilibrium price of the good necessarily decreases as well" is FALSE. When both the supply and demand curves shift to the left (meaning they both decrease), the equilibrium quantity will surely fall, but the effect on the equilibrium price is indeterminate without more information. This is because the decrease in demand tends to lower the price, while the decrease in supply tends to raise it. The actual effect on the equilibrium price depends on the relative magnitudes of the shifts in supply and demand.
Additionally, explaining why the statement "In the goods market, no buyer would be willing to pay more than the equilibrium price" is false, there can be instances where buyers are willing to pay more than the equilibrium price due to factors such as product differentiation, urgency of need, brand loyalty, or lack of information about the market price.