A decrease in supply will tend to cause

Name: A decrease in supply will tend to cause
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

A decrease in supply typically leads to a decrease in equilibrium quantity because there is less of the good or service available in the market. Demand remains the same, but the reduced supply cannot meet the previous level of demand, leading to a decrease in the quantity sold or bought at equilibrium.

A Decrease in Supply Will Tend to Cause