If a Demand Curve Shifts to the Left, Then

question 39

Multiple Choice

If a demand curve shifts to the left, then:

• A) the equilibrium price would go up and the equilibrium quantity would go down.
• B) the equilibrium price would go down and the equilibrium quantity would go up.
• C) a lower equilibrium price and quantity would result.
• D) a higher equilibrium price and quantity would result.

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Definitions:

Fruit

The ripened ovary, along with its seeds, of a flowering plant, usually eaten as food.

Grape

A small, round fruit, usually purple, green, or red, grown in clusters on vines, used for eating fresh or making wine.

Heuristics

Heuristics are mental shortcuts or rules of thumb that simplify decision making, often at the cost of accuracy or completeness.

Algorithms

Step-by-step procedures or formulas for solving problems or performing tasks.