If demand and supply in a competitive market each fall by 10% at every price, what happens to the equilibrium price and the quantity sold?
- Aprice: 10% decrease; quantity sold: 10% decrease
- Bprice: 10% decrease; quantity sold: no change
- Cprice: 5% decrease; quantity sold: 5% decrease
- Dprice: no change; quantity sold: 10% decrease