Draw a supply and demand graph and label the equilibrium price as P and equilibrium quantity as Q. Then show what would happen t
o the equilibrium price and quantity when there is a decrease in supply and an decrease in demand. Please show the shifts with arrows and be sure to say what has changed about the equilibrium price and quantity aftIr ALL of the shifts. (Hint: if all of these lines would make the graph look messy how can you split it up?)
