A decrease (leftward shift) in the supply of a good will tend to cause
A) an increase in the equilibrium price and quantity.
B) a decrease in the equilibrium price and an increase in the equilibrium quantity.
C) a shift in the demand curve to the left.
D) a decrease in the equilibrium price and quantity.
E) an increase in the equilibrium price and a decrease in the equilibrium quantity.
Correct Answer:
Verified
Q26: When a market is in equilibrium,
A) quantity
Q28: Temporary shortages in a market are eliminated
Q33: Table 3-1 Q33: Suppose that the demand for apples increased Q35: Which one of the following is most Q37: If the price of a good is Q38: If the same dairy can produce either
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents