Multiple Choice
Consider a market that is in equilibrium.If it experiences a decrease in supply,what will happen? The supply curve will shift to the:
A) left and the equilibrium price and quantity will rise.
B) left and the equilibrium price will increase and the equilibrium quantity will decrease.
C) left and the equilibrium price and quantity will fall.
D) right and the equilibrium price and quantity will fall.
Correct Answer:
Verified
Correct Answer:
Verified
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