Question: Determine the effects on equilibrium price and quantity with the following changes: 1. Demand decreases and supply remains the same 2. Supply decreases and demand

Determine the effects on equilibrium price and quantity with the following changes: 1. Demand decreases and supply remains the same 2. Supply decreases and demand remains the same 3. Demand decreases and supply decreases 4. Demand increases and supply decreases 5. Demand decrease and supply increases

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