Under normal downward sloping demand curve and fully elastic supply curve of a commodity, an exogenous decrease in demand would lead to (a) increase in equilibrium price and quantity (b) decrease in equilibrium price and quantity (c) decrease in equilibri

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Q: 72 (CDS-I/2024)
Under normal downward sloping demand curve and fully elastic supply curve of a commodity, an exogenous decrease in demand would lead to
(a) increase in equilibrium price and quantity
(b) decrease in equilibrium price and quantity
(c) decrease in equilibrium quantity and no change in price
(d) increase in equilibrium price and no change in quantity

question_subject: 

Economics

question_exam: 

CDS-I