If Demand Is Constant,a Leftward Shift in the Supply Curve

question 7

Multiple Choice

If demand is constant,a leftward shift in the supply curve will result in:

• A) A decrease in equilibrium quantity and a lower equilibrium price.
• B) An increase in equilibrium quantity and a lower equilibrium price.
• C) A decrease in equilibrium quantity and a higher equilibrium price.
• D) An increase in equilibrium quantity and a higher equilibrium price.