Consider a Market That Is in Equilibrium

question 55

Multiple Choice

Consider a market that is in equilibrium.If it experiences a decrease in supply,what will happen?

• A)The supply curve will shift to the left and the equilibrium price and quantity will rise.
• B)The supply curve will shift to the left and the equilibrium price will increase and the equilibrium quantity will decrease.
• C)The supply curve will shift to the left and the equilibrium price and quantity will fall.
• D)The supply curve will shift to the right and the equilibrium price and quantity will fall.

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