Multiple Choice
If a market begins in equilibrium and then the demand curve shifts leftward, a
A) shortage is created, which is eliminated by a rise in price.
B) surplus is created, which is eliminated by the supply curve shifting leftward.
C) surplus is created, which is eliminated by a rise in price.
D) shortage is created, which is eliminated by a fall in price.
E) surplus is created, which is eliminated by a fall in price.
Correct Answer:
Verified
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