-Assume demand remains unchanged at D1.If supply shifts from S2 to S1,then the equilibrium price will ________ and the equilibrium quantity will __________.
A) rise;fall
B) rise;rise
C) fall;fall
D) fall;rise
E) rise;be indeterminate

Question

-Assume demand remains unchanged at D1.If supply shifts from S2 to S1,then the equilibrium price will ________ and the equilibrium quantity will __________.
A) rise;fall 
B) rise;rise 
C) fall;fall 
D) fall;rise 
E) rise;be indeterminate

Quizplus · Accepted Answer

When supply shifts from S2 to S1, it indicates a decrease in supply. With demand remaining unchanged, the equilibrium price will rise due to the reduced supply, and the equilibrium quantity will fall.

-Assume Demand Remains Unchanged at D1