Assuming all else is held constant, which of the following statements is correct?
A) If a supply curve moves to the left this will lead to a shortage.
B) If a demand curve moves to the right this will lead to a surplus.
C) If a supply curve moves to the left the new equilibrium price will be higher.
D) If a demand curve moves to the left the new equilibrium price will be higher.
Correct Answer:
Verified
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