A decrease in supply without a corresponding change in demand will lead to
Question
A decrease in supply without a corresponding change in demand will lead toOptions
A)
an increase in equilibrium price and a decrease in equilibrium quantity
B)
a decrease in equilibrium price and an increase in equilibrium qantity
C)
a decrease in equilibrium price and equilibrium quantity
D)
an increase in equilibrium price and quantity
Related Lesson: Shifts of the Supply Curve | Theory of Price Determination
The correct answer is A.
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