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

Responses

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 stays the same
supply decreases and demand stays the same

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

When supply falls (a leftward shift), the equilibrium price rises and the equilibrium quantity falls, holding demand constant.