A product has a downward-sloping demand curve and an upward-sloping supply curve.
What would explain a rise in the price of the product and a fall in the quantity of the product sold?
1 )
The decrease in demand is double the decrease in supply.
The decrease in supply is double the decrease in demand.
3 )
The increase in demand is double the increase in supply.
4 )
The increase in supply is double the increase in demand.
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