Use the following to answer question(s): Demand and Supply

-(Exhibit: Demand and Supply) If the equilibrium price fell to $2 because of a shift to the left of the demand curve, the quantity supplied would be:

Question

Use the following to answer question(s): Demand and Supply
 
-(Exhibit: Demand and Supply) If the equilibrium price fell to $2 because of a shift to the left of the demand curve, the quantity supplied would be:

Quizplus · Accepted Answer

A shift to the left of the demand curve, resulting in a new equilibrium price of $2, would decrease the quantity demanded and supplied. The quantity that corresponds to this new price level on the supply curve is the correct answer. Without the specific exhibit, we typically infer that at lower prices, the quantity supplied decreases, aligning with choice B as the most plausible answer based on standard supply and demand theory.

Use the Following to Answer Question(s): Demand and Supply