Question: Problem: Assume there is a shift in supply and demand for a product where there is a small decrease in demand and a small increase

Problem: Assume there is a shift in supply and demand for a product where there is a small decrease in demand and a small increase in supply. Note: Indicate whether Quantity and Price increases, decreases or is indeterminate (stays unchanged). What happens to each of the following? Price: Quantity: Use the worksheet to solve this problem then select your answer from one the four choice below. Price Quantity O Price increases and Quantity increases Price is indeterminant and Quantity decreases Price decreases and Quantity decreases O Price decreases and Quantity is indeterminant

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