Question
Asked Mar 8, 2020
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A decrease in supply will cause
an increase in demand.
a decrease in demand.
an increase in quantity demanded.
a decrease in quantity demanded.
a decrease in equilibrium price.
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A decrease in supply will cause an increase in demand. a decrease in demand. an increase in quantity demanded. a decrease in quantity demanded. a decrease in equilibrium price.

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Expert Answer

Step 1

Decrease in supply:

Figure -1 shows the effect of decrease in supply as follows:

Economics homework question answer, step 1, image 1

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