Answer:
b) Equilibrium price will always go down
Explanation:
Remember, the equilibrium price refers to the price where the quantity demanded is equal to the quantity supplied.
Thus, given the situation of a simultaneous decrease in demand and increase in supply note that;
1. A decrease in demand will result in a reduction in the equilibrium price (let's say of apples) because with less demand there will be an excess in supply.
2. An increase in supply will cause a reduction in the equilibrium price of apples because there will be an excess supply of apples at the initial price.
