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.