$$\text { Leftward shift in supply } + \text { unchanged demand curve } =$$ higher equilibrium price and smaller equilibrium quantity.

Question

Quizplus · Accepted Answer

A leftward shift in the supply curve, with demand remaining constant, indicates a decrease in supply. This leads to a higher equilibrium price and a smaller equilibrium quantity because the reduced supply cannot meet the existing demand at the previous lower price, pushing prices up and reducing the quantity sold.

Leftward shift in supply + unchanged demand curve =\text { Leftward shift in supply } + \text { unchanged demand curve } = Leftward shift in supply + unchanged demand curve =

$\text { Leftward shift in supply } + \text { unchanged demand curve } =$