Quizzol

QUESTION:

A decrease (leftward shift) in the supply for a good will tend to cause ________.

a. an increase in the equilibrium price and quantity

b. a decrease in the equilibrium price and quantity

c. an increase in the equilibrium price and a decrease in the equilibrium quantity

d. a decrease in the equilibrium price and an increase in the equilibrium quantity

e. none of the answer choices

ANSWER:

c. an increase in the equilibrium price and a decrease in the equilibrium quantity

Posted by Cleveland on August 30, 2024