An increase in the equilibrium price and a decrease in the equilibrium quantity can be the result of
A) a decrease in demand.
B) an increase in supply.
C) a decrease in supply.
D) an increase in demand.
E) None of the above.

Question

Quizplus · Accepted Answer

A decrease in supply will shift the supply curve leftward, causing an increase in equilibrium price and a decrease in equilibrium quantity.

An Increase in the Equilibrium Price and a Decrease in the Equilibrium