Suppose the Supply of Textbooks Is Upward Sloping and Shifts

question 89

Multiple Choice

Suppose the supply of textbooks is upward sloping and shifts leftward due to higher ink and paper costs. Which of the following events would leave the equilibrium price of textbooks at the same level observed before the supply shift?

• A) Demand is perfectly elastic (horizontal).
• B) Demand is downward sloping and shifts leftward.
• C) all of the above
• D) none of the above

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