If there is a decrease in demand for a product, what can be expected to happen to the equilibrium price?

When there is a decrease in demand for a product, it indicates that consumers are willing to purchase less of the product at any given price. This shift typically leads to a surplus of the product in the market, as suppliers continue to produce and sell at previous levels of output.

As the quantity supplied exceeds the quantity demanded at the original equilibrium price, sellers will begin to lower their prices to clear out excess inventory and attract buyers. This process continues until the market reaches a new equilibrium level where the quantity demanded matches the quantity supplied, which will typically be at a lower price point. Therefore, a decrease in demand is expected to lead to a decrease in the equilibrium price.