With a downsloping demand curve and an upsloping supply curve for a product,a decrease in resource prices will:

A) increase equilibrium price and quantity.
B) decrease equilibrium price and quantity.
C) decrease equilibrium price and increase equilibrium quantity.
D) increase equilibrium price and decrease equilibrium quantity.

Downsloping Demand

A concept in economics that describes the inverse relationship between the price of a good and the quantity demanded, typically illustrated by a downward-sloping demand curve.

Upsloping Supply

A supply curve that shows an increase in the quantity supplied as the price increases, typical of most goods.

Resource Prices

The cost or price of raw materials, labor, and other inputs required for the production of goods and services.