If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would increase.

Name: If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would increase.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

​If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would increase.

Quizplus · Accepted Answer

When the supply curve decreases, it means there is a decrease in the quantity supplied at any given price. This leads to a shortage in the market and forces some buyers to offer a higher price to buy the same quantity. As a result, the equilibrium price increases.

​If the Supply Curve Decreases While the Demand Curve Remains

If the Supply Curve Decreases While the Demand Curve Remains