A leftward shift of the demand curve in a market with an upward-sloping supply curve will lead to a(n)
A)decrease in equilibrium price.
B)excess supply at the old equilibrium price.
C)decrease in quantity supplied.
D)All of the above.

Question

Quizplus · Accepted Answer

A leftward shift of the demand curve indicates a decrease in demand. This will lead to a decrease in the equilibrium price and quantity, resulting in excess supply at the old equilibrium price until the market adjusts to a new lower equilibrium price and quantity.

A Leftward Shift of the Demand Curve in a Market