When Supply Decreases and the Supply Curve Shifts to the Left

question 13

Multiple Choice

When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________.

• A) increases; increases
• B) increases; decreases
• C) decreases; increases
• D) decreases; decreases

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Definitions:

Laboratory Examination

A clinical test conducted in a laboratory to analyze samples and diagnose conditions.

Anesthetic

A substance used to induce anesthesia, temporarily eliminating sensation or pain in a part or the entirety of the body.

Needle Holder

Instrument used to hold a suture needle during the suturing process.

Sterile Field

A designated area, such as in a surgical environment, that is kept free of all microorganisms to reduce the risk of infection.