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:

Defamation

A false statement or an action that harms the reputation or character of an individual, business, product, group, government, or nation.

Capacity

In legal terms, the ability of an individual or entity to enter into a contract, often requiring them to be of legal age and sound mind.

Substantive Unconscionability

A principle in contract law where a contract or a specific term is so unfairly one-sided that it is deemed unconscionable and unenforceable.

Procedural Unconscionability

Refers to a situation in contract law where the manner in which a contract was formed is unfair or oppressive, often due to unequal bargaining power or lack of choice.