When the Supply of Good a Decreases

question 61

Multiple Choice

When the supply of good A decreases,

• A)the equilibrium price and the equilibrium quantity will increase.
• B)the equilibrium price will increase,but the equilibrium quantity will decrease.
• C)the equilibrium price and the equilibrium quantity will decrease.
• D)the equilibrium price will decrease,but the equilibrium quantity will increase.
• E)a surplus will result.

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