There is a change in both demand and supply in the ice cream market. As a result, the equilibrium price
decreases, whereas quantity demanded and quantity supplied remain the same. What must have happened
to supply and demand?
There was an increase in demand and a decrease in supply.
There was a decrease in demand, and supply remained the same.
There was an increase in demand, and supply stayed the same.
There was a decrease in demand and an increase in supply.