If the supply of a product decreases and supply curve shifts-09022
If the supply of a product decreases and supply curve shifts leftward, and the demand for that product simultaneously increases and demand curve shifts rightward, then equilibrium:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Mid Term - Quiz No.8.
If the supply of a product decreases and supply curve shifts leftward, and the demand for that product simultaneously increases and demand curve shifts rightward, then equilibrium:
Price must rise.
Price must fall.
Quantity must rise.
Quantity must fall.
