Other things remaining the same, a left shift in the supply curve will lead to:
A) a decrease in the equilibrium price and the equilibrium quantity.
B) an increase in the equilibrium price and the equilibrium quantity.
C) a decrease in the equilibrium price and an increase in the equilibrium quantity.
D) an increase in the equilibrium price and a decrease in the equilibrium quantity.
D
Economics
You might also like to view...
Law of Supply
What will be an ideal response?
Economics
Which of the following is true?
i. Compared to a no-trade situation, exports make consumers better off. ii. Tariffs make consumers worse off. iii. Trade is restricted because protection brings small losses to a large number of people and large gains to a small number of people. A) Only i B) Only ii C) Only iii D) i and iii E) ii and iii
Economics