Suppose both supply and demand decrease. What effect will this have on the equilibrium quantity?

a$.$ it will fall.

b$.$ it will rise.

c$.$ it may rise or fall.

d$.$ it will remain the same.

e$.$ None of the above

The $y-$axis intercept of the demand curve is $60$ and the slope is $-8.$ The equation of the inverse demand curve is $.$

a$.P=8-60QD$

b$.P=60-8QD$

c$.QD=60-8P$

d$.P=60+8QD$

e$.QD=60+8P$

What is the price where quantity supplied equals quantity demanded?

a$.$ coordinating price

b$.$ monopoly price

c$.$ equilibrium price

d$.$ balancing price

e$.$ None of the above