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If supply is upward sloping, a decrease in demand with no change in supply will lead to a(n) _____ in equilibrium quantity and a(n) _____ in equilibrium price.

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Final answer:

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

Step-by-step explanation:

If supply is upward sloping, a decrease in demand with no change in supply will lead to a(n) decrease in equilibrium quantity and a(n) decrease in equilibrium price.

This is because when demand decreases, the quantity demanded at each price point also decreases. However, since supply remains the same, the quantity supplied at each price point remains unchanged. This results in an excess supply of the good, leading to a decrease in price in order to clear the market.

User Enzo Lizama
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