If demand falls and supply remains constant, once the market has adjusted to its new equilibrium...
If demand falls and supply remains constant, once the market has adjusted to its new equilibrium there will be
Group of answer choices
fewer transactions, and they will take place at a higher price.
more transactions, and they will take place at a lower price.
fewer transactions, and they will take place at a lower price.
Homework Answers
Correct Answer:
C
In the given scenario, the demand will decrease and demand curve will shift to the left. It will cause, output to decrease and price to decrease as well, at the new equilibrium. Here, there are fewer transactions at the lower price due to fall in demand.
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If demand falls and supply remains constant, once the market has
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