When the supply of a good decreases, consumers will eventually:
A)decrease their demand.
B)increase their preferences for the good.
C)decrease their quantity demanded.
D)increase their quantity demanded.

Question

Quizplus · Accepted Answer

When the supply of a good decreases, it means there is less of the good available in the market. This leads to a higher price, as there is still demand for the good. As prices increase, consumers tend to decrease their quantity demanded, as they may not be willing or able to pay the higher prices. So, option C is the correct choice.

When the Supply of a Good Decreases, Consumers Will Eventually