Question
How does a decrease in supply affect equilibrium price and quantity?
a. A decrease in supply leads to a lower equilibrium price and a lower equilibrium quantity.
b.A decrease in supply leads to a lower equilibrium price and a higher equilibrium quantity.
c. A decrease in supply leads to a higher equilibrium price and a lower equilibrium quantity.
d. A decrease in supply leads to a higher equilibrium price and a higher equilibrium quantity.
is it A?
a. A decrease in supply leads to a lower equilibrium price and a lower equilibrium quantity.
b.A decrease in supply leads to a lower equilibrium price and a higher equilibrium quantity.
c. A decrease in supply leads to a higher equilibrium price and a lower equilibrium quantity.
d. A decrease in supply leads to a higher equilibrium price and a higher equilibrium quantity.
is it A?