A decrease in supply is represented by a

Name: A decrease in supply is represented by a
Brand: Quizplus
Rating: 4.8 (53 reviews)

Question

Quizplus · Accepted Answer

A decrease in supply means that producers are willing to supply less at the same prices. This is illustrated by a leftward shift of the supply curve, as the entire curve moves to the left. A movement downward and to the left along a supply curve would indicate a decrease in quantity supplied due to a change in price, not a change in supply. B and C are also incorrect as they represent an increase in supply.

A Decrease in Supply Is Represented by a