Other Things Remaining the Same,a Leftward Shift in the Supply

question 21

Multiple Choice

Other things remaining the same,a leftward shift in the supply curve will lead to a(n) ________.

• A) decrease in the equilibrium price and the equilibrium quantity
• B) increase in the equilibrium price and the equilibrium quantity
• C) decrease in the equilibrium price and an increase in the equilibrium quantity
• D) increase in the equilibrium price and a decrease in the equilibrium quantity

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Definitions:

Enforceable

describes a contract or covenant that can be legally imposed or carried out through legal action.

Incapacitated

A state where an individual is unable to take care of themselves or manage their affairs due to physical or mental limitations.

Contract Law

The body of law that governs the creation, enforcement, and interpretation of agreements between parties.

Jurisdictions

The official power to make legal decisions and judgments, often within a specified geographic area or over certain types of legal cases.