If both supply and demand decrease simultaneously, the new equilibrium price is _ and the new equilibrium quantity is ___. A. lower; lower B. lower; indeterminate C. indeterminate; higher D. indeterminate; lower

If there is a fall in both the supply and demand for a commodity then as a result there is a leftward shift in both the curves. This leftward shift in both the curves, decreases the equilibrium quantity and impact of this shift is indeterminate for equilibrium price because we don't know the magnitude of the shifts of demand and supply curve.

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If both supply and demand decrease simultaneously, the new equilibrium price is ___________ and the new equilibrium quantity is _____________. A. lower; lower B. lower; indeterminate C. indeterminate; higher D. indeterminate; lower

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If both supply and demand decrease simultaneously, the new equilibrium price is _ and the new equilibrium quantity is ___. A. lower; lower B. lower; indeterminate C. indeterminate; higher D. indeterminate; lower