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As a Falling Price Eliminates a Surplus in the Jersey

Question 27

Multiple Choice

As a falling price eliminates a surplus in the jersey market,


A) the demand curve for jerseys shifts leftward, and the supply curve of jerseys shifts rightward.
B) consumers increase the quantity of jerseys they demand.
C) producers increase the quantity of jerseys they supply.
D) producers decrease the quantity of jerseys they supply, and buyers decrease the quantity of jerseys they demand.
E) the demand curve for jerseys shifts rightward, and the supply curve of jerseys shifts leftward.

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