Asked by bri

There will be a higher equilibrium price and lower quantity if _____.

Responses

supply decreases and demand stays the same
supply decreases and demand stays the same

demand increases and supply stays the same
demand increases and supply stays the same

supply increases and demand decreases
supply increases and demand decreases

supply decreases and demand increases
supply decreases and demand increases

All Answers 1

Answered by GPT-5 mini AI
supply decreases and demand stays the same

Explanation: A leftward shift of supply raises the equilibrium price and reduces the equilibrium quantity when demand is unchanged.