True. If the decrease in supply is less than the decrease in demand, then the equilibrium price will decrease.
Equilibrium price is the price at which the supply and demand of a given good or service is balanced. If the supply of a good exceeds its demand, its price will fall, and with lower prices the demand will increase.
Equilibrium price is attained at that level where there is relative stability in the prices owing to the supply being matched by demand.
If the decrease in supply is less than the decrease in demand, it means the demand will eventually outstrip the supply of the given product or service. This will lead to a fall in its price until an equilibrium is established.
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