What happens to equilibrium quantity when simultaneously demand increases and supply decreases?

A) Equilibrium quantity will increase.
B) Equilibrium quantity will decrease.
C) Equilibrium quantity will remain the same.
D) Equilibrium quantity may increase,decrease,or remain the same depending on the magnitude of the shifts in demand and supply.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.

Demand Increases

A situation where the quantity of a product or service desired by buyers exceeds the quantity supplied at a particular price.

Supply Decreases

A condition in the market where the quantity of a product or service available for sale declines, which can lead to higher prices.