If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the equilibrium

Question

Quizplus · Accepted Answer

When the demand curve shifts leftward, it indicates a decrease in demand, which tends to lower the price. Simultaneously, a rightward shift in the supply curve indicates an increase in supply, which also tends to lower the price. Therefore, the equilibrium price of bikes definitely decreases.

If the Demand Curve for Bikes Shifts Leftward and the Supply