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प्रश्न
With the help of a diagram, illustrate the effect of a simultaneous and proportional decrease in demand and supply on equilibrium price and quantity.
आकृती
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उत्तर
When both demand and supply decrease in an equal proportion, the price will remain the same but the equilibrium quantity will decrease.
Decrease in Demand = Decrease in Supply
Quantity Demanded and Supplied (in Units)
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