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If both the supply of and the demand for a good decrease simultaneously, and if demand shrinks relatively less than supply, then price will

          If both the supply of and the demand for a good decrease simultaneously, and if demand shrinks relatively less than supply, then price will
        

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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If both the supply of and the demand for a good decrease simultaneously, and if demand shrinks relatively less than supply, then price will
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Transcript

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00:01 So the easiest way to do this is simply to draw it.
00:03 Let's draw a market.
00:05 Here's a market.
00:05 A market is a story about quantity and price.
00:08 Here's a story about demand and supply.
00:12 And we know that the demand, the change in demand is big.
00:16 So i'm going to draw a big fall in demand.
00:20 Demand is going to fall a whole lot...
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