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:

Goal Attainment

The process of setting, pursuing, and achieving objectives, often involving planning, effort, and persistence.

Organisational Performance

A measure of how efficiently and effectively an organization meets its objectives.

Open System

An open system is one that interacts with its environment, exchanging information, resources, and materials to sustain its operations and adapt to environmental changes.

External Environment

Factors outside of an organization’s control that can affect its performance and strategy, including economic, regulatory, and competitive forces.